The industry that most closely approximates the conditions of the oligopoly model is:
A) restaurants.
B) retail clothing.
C) home construction.
D) tires.

Question

Quizplus · Accepted Answer

The tire industry is dominated by a few large firms (such as Goodyear, Michelin, and Bridgestone) with significant market power and the ability to impact prices and output. This aligns with the characteristics of an oligopoly market structure.

The Industry That Most Closely Approximates the Conditions of the Oligopoly