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Oligopolistic industries are characterized by

a few dominant firms and no barriers to entry
a large number of firms and low entry barriers
a few dominant firms and substantial entry barriers
a few dominant firms and low entry barriers

Correct Answer: a few dominant firms and substantial entry barriers

Explanation:

Oligopoly is market structure where a small number of large firms are there. Oligopolistic industries are characterized by a few dominant firms and substantial entry barriers.

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