Which of the following markets is most likely to be characterized by oligopolistic competition in the United States?
A) soybeans
B) pens and pencils
C) smartphone service providers
D) men's clothing
E) electrical service to the home

Question

Quizplus · Accepted Answer

The market for smartphone service providers is most likely to be characterized by oligopolistic competition in the United States as there are only a limited number of firms that dominate the market such as AT&T, Verizon, T-Mobile, and Sprint. These firms have the ability to control prices and profits and compete on non-price factors such as network coverage and quality of service.

Which of the Following Markets Is Most Likely to Be