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

Question

Quizplus · Accepted Answer

The automobile industry is the best example of an oligopoly as it is dominated by a few large firms that control a significant share of the market. These firms have significant control over pricing and output, and their competitive behavior has a significant impact on the performance of the industry as a whole. Additionally, there are high barriers to entry, which limit the ability of new firms to enter the market and compete with established companies.

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