Economists would describe the U.S. automobile industry as
A)purely competitive.
B)an oligopoly.
C)monopolistically competitive.
D)a pure monopoly.

Name: Economists would describe the U.S. automobile industry as A)purely competitive. B)an oligopoly. C)monopolistically competitive. D)a pure monopoly.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

The U.S. automobile industry is best described as an oligopoly because it is dominated by a few large firms that have significant control over the market prices.

Economists Would Describe the U.S. Automobile Industry as