The petroleum industry is an example of
A) monopolistic competition.
B) pure oligopoly.
C) duopoly.
D) differentiated oligopoly.

Name: The petroleum industry is an example of A) monopolistic competition. B) pure oligopoly. C) duopoly. D) differentiated oligopoly.
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Question

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The petroleum industry is typically considered a pure oligopoly because it is dominated by a few large firms that have significant control over prices and market supply.

The Petroleum Industry Is an Example of