12. Which set of characteristics best identifies an oligopoly market

Group of answer choices

a. Many firms, homogeneous product, significant barriers to entry, significant non-price competition, and considerable power over price.

b. Few firms, differentiated product, no barriers to entry, the absence of non-price competition, and considerable advertising.

c. One firm producing a product with no close substitutes, significant barriers to entry, and considerable power over price.

d. Many firms, differentiated product, few barriers to entry, and non-price competition.

e. Few firms, differentiated product, significant barriers to entry, and significant amounts of non-price competition.