An industry characterized by the existence of a few very large firms is called a(n) _____.

Name: An industry characterized by the existence of a few very large firms is called a(n) _____.
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An oligopoly is a market structure in which a few large firms dominate the industry, often leading to limited competition. Unlike a monopoly, where only one company controls the market, an oligopoly consists of several companies that have significant market power.

An Industry Characterized by the Existence of a Few Very