Reality, Inc. is a major producer of reality television shows. The company faces fierce competition from three other major producers of similar shows. Together, Reality, Inc. and its three rivals control almost all of reality television. Their market environment is called
A) an oligopoly.
B) a duopoly.
C) monopolistic competition.
D) a quasi-monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a few sellers dominate the market.