Which of the following best describes the competition in the U.S.online auction industry?
A) Perfect competition
B) Monopolistic competition
C) Oligopoly
D) Monopoly

Question

Quizplus · Accepted Answer

The U.S. online auction industry is dominated by a few major players, including eBay and Amazon. This suggests an oligopoly market structure where a small number of large firms compete. Perfect competition and monopoly are unlikely in this industry, and while there may be some degree of product differentiation among the various online auction sites, it is not significant enough to warrant a classification of monopolistic competition.

Which of the Following Best Describes the Competition in the U.S.online