In September 2008, Toyota Motor's share of the U.S. auto sales market was 15 percent, Ford's market share was 12.1 percent, GM's was 29.1 percent, Honda's was 10 percent, Nissan's share was 6.2 percent, and Chrysler's market share was 11.1 percent. What type of market structure would the market for autos represent?

Question

Quizplus · Accepted Answer

The auto market is an oligopoly because it is dominated by a few large firms, such as GM, Ford, and Toyota, which have significant market shares.

In September 2008, Toyota Motor's Share of the U