Oligopoly occurs when
A)a few firms sell many different products.
B)a few firms sell to a few large buyers.
C)many firms dominate a single market.
D)a few firms dominate a single market.

Question

Quizplus · Accepted Answer

Oligopoly occurs when a few firms dominate a single market. This means that the market is controlled by a small number of large companies which have the power to influence the market price and output of goods and services. This leads to limited competition and can result in higher prices for consumers.

Oligopoly Occurs When