Suppose you can get broadband only from your cable company or your phone company. This market would be described by

Question

Quizplus · Accepted Answer

The fact that there are only two options for broadband providers (cable and phone companies) suggests that this market is dominated by just a few large providers, which is characteristic of an oligopoly. Perfect competition would require numerous small firms, monopolistic competition would require many firms selling differentiated products, and a monopoly would require a single provider with no close substitutes.

Suppose You Can Get Broadband Only from Your Cable Company