Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Non Competitive markets

Question:
An oligopoly is NOT characterized by ___________.
Options:
Small number of large firms
Large number of small firms
Indeterminate demand curve
Some barriers to entry
Correct Answer:
Large number of small firms
Explanation:
In oligopoly, there are a few dominant firms. This means, the size of firms in oligopoly is large but such firms are small in numbers.