Which of the following industry structures is made up of a several small or medium-sized companies, none of which is positioned to determine industry price?
A) Fragmented industry
B) Consolidated industry
C) Oligopoly
D) Monopoly
E) Monopolistic competition

Question

Quizplus · Accepted Answer

A fragmented industry is made up of several small or medium-sized companies, none of which is positioned to determine industry price. This is contrasted with a consolidated industry, where a few large companies dominate the market and are able to influence pricing. Oligopoly refers to an industry dominated by a few large companies, and monopolistic competition refers to an industry with many small players that offer slightly differentiated products. A monopoly is a market structure where there is only one seller of a particular good or service, giving them full control over pricing.

Which of the Following Industry Structures Is Made Up of a Several