An industry in which there are just a few large firms is likely to be characterized by

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An industry in which there are just a few large firms is likely to be characterized by oligopoly, meaning that there are only a small number of firms dominating the market. These firms are able to influence prices and output levels, leading to less competition and potentially higher profits. Monopoly is characterized by a single firm dominating the market, while monopolistic competition involves many firms with differentiated products competing with each other. Perfect competition involves a large number of small firms with no market power.

An Industry in Which There Are Just a Few Large