Suppose that industry A consists of four firms who collectively control 96 percent of total sales in the market.We can conclude that industry A is

Name: Suppose that industry A consists of four firms who collectively control 96 percent of total sales in the market.We can conclude that industry A is
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Question

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An industry in which four firms control a significant majority of the market share (96 percent in this case) is known as an oligopoly. Therefore, the correct choice is D.

Suppose That Industry a Consists of Four Firms Who Collectively