When General Mills and a few other firms dominate the cereal market, this is an example of
A) pure competition.
B) monopolistic competition.
C) oligopoly.
D) natural monopoly.
E) monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure where a few large firms dominate the market. In this case, General Mills and a few other firms dominate the cereal market, indicating an oligopoly.

When General Mills and a Few Other Firms Dominate the Cereal