A form of industry structure characterized by a few firms each large enough to influence market price is
A) perfect competition.
B) monopolistic competition.
C) oligopoly.
D) monopoly.

Question

Quizplus · Accepted Answer

Oligopoly is the market structure where a few firms are large enough to have market power and influence prices, unlike perfect competition and monopolistic competition where there are many firms, and unlike monopoly where there is only one firm.

A Form of Industry Structure Characterized by a Few Firms