An industry described as an oligopoly would most likely have
A.
normal profits in the long run.
B.
no opportunities for collusive behavior.
C.
significant barriers to entry.
D.
price-taking behavior.
E.
one firm with no close rivals.
Exam No： AP Micro Practice Test 4 Year：2024 Question No：52
Answer:
C
Knowledge points:
3.6 Firms’ Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
4.1 Introduction to Imperfectly Competitive Markets
4.5 Oligopoly and Game Theory
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