An oligopoly is a market
A)with few buyers.
B)with one buyer.
C)dominated by a few sellers.
D)under the control of a few politically powerful individuals.

Question

Quizplus · Accepted Answer

An oligopoly is a market where there are few sellers who dominate the market. It is characterized by a high degree of market concentration and interdependence among the firms in the industry. This allows the dominant firms to control prices, limit competition, and achieve higher profits. The other options given are incorrect as they do not accurately describe the nature of an oligopoly.

An Oligopoly Is a Market