A market dominated by a small number of powerful sellers is known as a(n) _____ .
A) oligopoly
B) pure play
C) short tail
D) blue ocean
E) greenfield

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a few firms dominate. In an oligopoly, these firms have significant market power and can influence prices and production, distinguishing it from more competitive markets or monopolies.

A Market Dominated by a Small Number of Powerful Sellers