Which of the following statements about oligopolies is not correct?

a. An oligopolistic market has only a few sellers.
b. The actions of any one seller can have a large impact on the profits of all other sellers.
c. Oligopolistic firms are interdependent in a way that competitive firms are not.
d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.

ANSWER:

d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.