Answer (C) is correct . An oligopolistic industry is characterized by only a few firms. Usually there are significant barriers to entry, such as high capital requirements, which prevent new firms from entering the industry. The automobile industry is an example.
Answer (A) is incorrect because An industry with a single firm is monopolistic.
Answer (B) is incorrect because Oligopolists have the same profit-maximizing goal as other firms.
Answer (D) is incorrect because The demand curve for a firm in perfect competition is horizontal. An oligopolist’s demand curve is relatively flat but may be kinked if competitors follow its price decreases but not the price increases.
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