Kodak, Fuji, and Agfa control the majority of sales for amateur photographic film. This exemplifies the competitive situation called:
A)unfair trade practice.
B)an oligopoly.
C)collusion.
D)a trilateral monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market situation where a small number of companies control the majority of sales for a particular product or service. In this case, Kodak, Fuji, and Agfa have a dominant market share in the amateur photographic film industry, which makes it an example of an oligopoly.

Kodak, Fuji, and Agfa Control the Majority of Sales for Amateur