A particular industry has only a few competitors,who have some control over price.However,high start-up costs make entry into the industry difficult.This industry is an example of _____.

Question

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This description fits an oligopoly, where a few companies have significant market power and control over prices, and high barriers to entry, such as start-up costs, prevent new competitors from easily entering the market.

A Particular Industry Has Only a Few Competitors,who Have Some