________ exists when an industry has only a handful of sellers,most of which are large.
A) A monopoly
B) An oligopoly
C) Perfect competition
D) Monopolistic competition

Question

Quizplus · Accepted Answer

An oligopoly exists when there are only a few large firms in an industry. These firms have significant market power and are able to influence the price and quantity of goods or services produced. Monopoly refers to a situation where there is only one seller in the industry, perfect competition refers to an industry with many small firms, and monopolistic competition refers to a market with many small firms selling differentiated products.

________ Exists When an Industry Has Only a Handful of Sellers,most