What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?
A) Monopoly
B) Oligopoly
C) Monopolistic competition
D) Mixed competition
E) Pure competition

Question

Quizplus · Accepted Answer

An oligopoly exists when just a few sellers control a large portion of the supply of a product. This type of market structure often results in reduced competition and high barriers to entry for new firms.

What Type of Competitive Structure Exists When Just a Few