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All of the following are characteristics of an oligopolistic market EXCEPT A. firms earn lower profits than a monopoly. B. firms must consider the actions of their rivals. C. cartels eventually form to keep prices high. D. firms have the ability to influence prices.

Respuesta :

madison3395

Answer:

C. cartels eventually form to keep prices high.

Explanation:

All of the following are characteristics of an oligopolistic market EXCEPT, cartels eventually form to keep prices high.

Tutorconsortium330

"Cartels eventually form to keep high prices" is not the characteristic of an oligopolistic market.

What is an oligopolistic market or oligopoly?

  • An oligopolistic market (also known as an oligopoly) is characterized by the dominance of a small number of businesses that provide comparable products and services over a large number of others.
  • In an oligopolistic market, there are few competitors, which limits competition and enables every firm to thrive.
  • The environment often encourages cooperative behavior and regular business ties between companies.

Examples of oligopoly:

  • Mobile phones
  • NEWS media
  • Beer
  • Cellular network
  • Entertainment music

Characteristics of an oligopolistic market?

  1. Several Companies with a Large Market Share
  2. High Entry Barriers
  3. Interdependence
  4. The market power of each company is relatively small
  5. More expensive than the ideal competition
  6. More effective

Learn more about oligopolistic market here:

https://brainly.com/question/20379683?referrer=searchResults

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