Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of
A) an oligopoly.
B) a trilateral monopoly.
C) a pure monopoly.
D) a pure competition.
E) a monopolistic competition.

Question

Quizplus · Accepted Answer

This industry is an example of an oligopoly because it is dominated by a few large firms, which is characteristic of an oligopolistic market structure.

Boeing, Northrup Grumman, and Lockheed Martin Control the Vast Majority