Related to the Economics in Practice on page 305: Almost 90 percent of advertisements seen in movie theaters are produced and sold by two firms. This movie theater advertisement industry would be characterized as

Question

Quizplus · Accepted Answer

The fact that almost 90% of the movie theater advertisement industry is dominated by only two firms indicates that there are very few significant competitors in the market. This matches the definition of an oligopoly, where a small number of firms control the majority of the market share.

Related to the Economics in Practice on Page 305: Almost