No market power may not characterize an oligopoly. Hence, option B is correct.
When a business lacks market dominance, its products are frequently remarkably comparable to those of its competitors. Thanks to this, customers may now easily switch from a company's product to another's.
The ability of a firm or group of enterprises to raise and maintain prices above the level that would prevail in the absence of competition is known as market or monopolistic power. Utilizing market power reduces productivity and harms the economy.
Thus, option B is correct.
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