Economics · Market Structures
Which of the following statements best describes an oligopolistic market?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1In an oligopoly, all suppliers are forced to charge the exact same price.
- 2If an oligopolist increases its prices, it will immediately lose all of its customers.
- 3An oligopolist operates independently and is completely unaware of the strategies of its competitors.
- 4An oligopolist has a high level of market power and significant influence within its industry.✓
Correct answer
An oligopolist has a high level of market power and significant influence within its industry.
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