A market consisting of a few firms producing similar products with significant barriers to entry is characteristic of

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Quizplus · Accepted Answer

An oligopoly is a market structure where a few firms dominate the market and have significant barriers to entry. These firms produce similar products, and there is competition, but it is limited. This is different from perfect competition, where there are many small firms without significant barriers to entry, and monopolistic competition, where there are many firms producing similar but differentiated products. Therefore, the best choice for this question is D, oligopoly.

A Market Consisting of a Few Firms Producing Similar Products