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Which of the following is a characteristic of an oligopoly? A. Each firm acts independently. B. There are many firms and, therefore, no influence on

Which of the following is a characteristic of an oligopoly?

A. Each firm acts independently.

B. There are many firms and, therefore, no influence on the market price.

C. Price and output decisions for each firm depends on the decision of its rivals.

D. Firms always produce standardized products.

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