Which of the following statements about oligopolies is not correct? a. An oligopolistic market has only a few sellers. b. The actions of any one seller can have a large impact on the profits of all other sellers. c. Oligopolistic firms are interdependent in a way that competitive firms are not. d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.
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An oligopolistic market has only a few sellers. - This statement is correct. Oligopolies are characterized by a small number of firms dominating the market. b. The actions of any one seller can have a large impact on the profits of all other sellers. - This Show more…
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