A noncompetitive industry would generally be the result of a

Question

Quizplus · Accepted Answer

A noncompetitive industry is characterized by a small number of large firms who have significant market power and can affect prices through their actions. In contrast, in a competitive industry, there are a large number of small firms who have little market power and cannot affect prices. Therefore, option C, which describes a small number of large firms, is the best choice for a noncompetitive industry.

A Noncompetitive Industry Would Generally Be the Result of a