The market for high-end cars is likely to be ________.

Question

Quizplus · Accepted Answer

The high-end car market is likely to be an oligopoly as there are only a few major players dominating the market such as BMW, Mercedes-Benz, and Audi. These companies have significant market power and control over pricing and product differentiation. Therefore, this market structure indicates that it is an oligopoly rather than perfectly competitive, monopolistically competitive, or a monopoly.

The Market for High-End Cars Is Likely to Be ________