A.Indicate if the following characteristics exist in oligopolistic market by writing a YES in the blank for those that does and NO for those that do not.

_____1. Easy entry into the market

_____2. Uniform pricing of product.

_____3. Interdependence of action among sellers.

_____4. Products sold may be homogeneous or differentiated.

_____5. Nonprice competitions prevalent

_____6. Sellers enjoy a degree of market control

_____7. The seller's marginal revenue is lower than price.

_____8. Profit is maximized where MR+MC

_____9. A decrease in the price of one seller is usually matched by price decreases of his rivals.

_____10. The marginal revenue curve is truncated.

B.Give the points of differentiation between a pure competition and monopoly and oligopoly

1.

2.

3.