Which of the following is not a characteristic of an oligopoly?

Question

Question: Which of the following is not a characteristic of an oligopoly?

Options:

1.  The seller has considerable control over price.
2.  There are few sellers.
3.  Any duplication of facilities is wasteful.
4.  Sizable investments are required to enter the market.
5.  The market actions of each seller can strongly affect other sellers.

Answer 1

3. Any duplication of facilities is wasteful.

'Any duplication of facilities is wasteful' is not a characteristic of an oligopoly.