If the four largest firms in an industry control 88% of the industry, this market is:
A) perfectly competitive.
B) monopolistically competitive.
C) an oligopoly.
D) a monopoly.

Question

Quizplus · Accepted Answer

This market is an oligopoly because a small number of firms (in this case, four) control a large portion of the market (88%), which is characteristic of oligopolistic markets.

If the Four Largest Firms in an Industry Control 88