General Mills and a few other firms dominating the American cereal market are an example of _____.

Question

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An oligopoly is a market structure where a small number of firms dominate the market. In this case, General Mills and a few other firms dominate the American cereal market. It is not a pure competition because there are not many small firms with no significant market power. It is not a monopolistic competition because there are not many small firms offering differentiated products. It is not a natural monopoly because there are more than one firm competing in the market. It is not a monopoly because there are more than one firm competing in the market.

General Mills and a Few Other Firms Dominating the American