Asked by
Blast Plays
on Dec 12, 2024
Verified
A market situation where a small number of sellers compose the entire industry is called
A) monopolistic competition.
B) monopsony.
C) monopoly.
D) oligopoly.
Oligopoly
A market structure dominated by a small number of large firms, leading to limited competition and potentially higher prices for consumers.
- Understand the specific features and dynamics present in oligopolistic markets, with an emphasis on their interdependent nature.
Verified Answer
EM
Learning Objectives
- Understand the specific features and dynamics present in oligopolistic markets, with an emphasis on their interdependent nature.
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