Which of the following is not a characteristic of oligopoly?
Determinateness of demand curve
Interdependence
Price rigidity
Element of monopoly
A
Interdependence
B
Determinateness of demand curve
C
Price rigidity
D
Element of monopoly
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Solution
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Oligopoly is a market with a few firms and in which a market is highly concentrated. It can be also called as one form. Following are the characteristics of oligopoly:
Interdependence.
price rigidity
Element of monopoly.
Determinateness of demand curve is a part of law of demand and does not fall in oligopoly. Hence, it is not a characteristic of oligopoly.
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