The aluminum and steel industry in a foreign country is dominated by just three firms and these firms control at least 80 percent of the domestic market. The market structure in this country is a(n)

Question

Quizplus · Accepted Answer

An oligopoly is a market structure where a small number of firms dominate the market, which is the case here with three firms controlling at least 80 percent of the market.

The Aluminum and Steel Industry in a Foreign Country Is