Q. The basic characteristic of Oligopology is

A
A few sellers, A few buyers
B
A few sellers, many buyers
C
Many sellers, one buyer
D
Afew sellers, one buyer
Solution:

The basic idea of oligopoly is that it is a market structure in which there are only a very few large firms that are participating in the market. The main characteristics of this market structure are: A small number of sellers, enough that any one of them can influence the overall market

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