Question 1 2.5 Which set of characteristics best defines an oligopoly market? Several firms have control of a lion's share of the market; significant barriers to entry; interdependency among the major firms; considerable advertising. Several firms have control of the majority of the market; differentiated products; no barriers to entry; the absence of non-price competition; considerable advertising. Many firms; differentiated products; significant barriers to entry; the absence of non-price competition; no advertising. Many firms produce products with no close substitutes; significant barriers to entry; considerable control over the price; significant local advertising. Question 2 5 pt