A market where there are many firms, but one firm dominates and has the bulk (85 percent)of sales in the market, is called a
A)natural monopoly.
B)monopolistically competitive market.
C)pure monopoly.
D)near-monopoly.

Question

Quizplus · Accepted Answer

A near-monopoly occurs when one firm dominates the market with a very high market share, but there are still small competitors present. In this scenario, the dominant firm's 85 percent market share indicates a near-monopoly situation.

A Market Where There Are Many Firms, but One Firm