Question

1. identify any five 5 characteristics of a monopoly
2. explain any five 5 characteristics of an oligopoly

Answer 1

1. Monopoly features include solitary sellers, price makers, profit maximizers, high barricades to entry, and price discrimination.
2. The five distinguishing features of an oligopoly market structure include barriers to entry, the interdependence of firms, competition, group conduct, and advertising.