Which is true? i. In oligopoly, there are few large firms. ii. There is large number of firms. iii. These firms have significant market power. iv. These firms prevent other firms from entering the market. v. These few firms can’t prevent other firms from entering the market.

ii, iii, iv i, iii, iv ii, iii, v i, iii, v

i, iii, iv

In oligopoly, there are few large firms and they have significant market power. Entry of other firms is not easy.