Just a few sellers dominate the markets for laundry detergents, soft drinks, and automobiles. Economists would classify these markets as
A) monopolistic competition.
B) perfect competition.
C) oligopolies.
D) monopolies.

Question

Quizplus · Accepted Answer

An oligopoly is a form of competition in which just a few sellers dominate a market. High initial investment tends to create a barrier to new competitors.

Just a Few Sellers Dominate the Markets for Laundry Detergents