Which one the following industries is the best example of an oligopoly?
A)the market for wheat
B)the fast-food industry
C)the motor vehicle industry
D)the clothing industry
E)the restaurant industry

Question

Quizplus · Accepted Answer

The motor vehicle industry is the best example of an oligopoly because there are only a few major players, such as Ford, General Motors, and Toyota, who have significant market power and influence over pricing and competition. The barriers to entry in this industry are also high, making it difficult for new companies to enter and compete.

Which One the Following Industries Is the Best Example of an Oligopoly