If Sweet Dreams controls 85 percent of the market for insomnia drugs and the remaining 15 percent of the market includes many other, smaller competing firms, Sweet Dreams is a ______firm.

Question

Quizplus · Accepted Answer

Sweet Dreams has a dominant position in the market for insomnia drugs because it controls 85% of the market share. However, it is not a monopoly because there are other small competing firms in the remaining 15% of the market.

If Sweet Dreams Controls 85 Percent of the Market for Insomnia