The product in an oligopolistic market

A) is assumed to be homogeneous.
B) is always differentiated from one firm to another.
C) may be homogeneous or differentiated.
D) has very many close substitutes.

Oligopolistic Market

A market structure characterized by a small number of large firms dominating the market, leading to limited competition and possibly collusive behavior.

Homogeneous

Describes products or items that are uniform in nature and cannot be differentiated from one another.

Differentiated

Characterized by the process of distinguishing a product or service from others, to make it more attractive to a particular target market.