According to a recent Federal Communications Commission report,AT&T,Verizon,Sprint-Nextel,and T-Mobile control the vast majority of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?
A)pure competition
B)limited competition
C)a monopoly
D)an oligopoly
E)monopolistic competition

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a few large firms dominate the market. In this case, the four major wireless carriers, AT&T, Verizon, Sprint-Nextel, and T-Mobile, control the majority of the subscribers in the U.S. wireless mobile phone market, indicating an oligopolistic competition.

According to a Recent Federal Communications Commission Report,AT&T,Verizon,Sprint-Nextel,and T-Mobile Control