A market dominated by a few large sellers who sell identical or differentiated products is called
A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.

Question

Quizplus · Accepted Answer

An oligopoly is characterized by a market structure where a few large firms dominate the market, selling either identical or differentiated products. This contrasts with perfect competition (many sellers, identical products), monopolistic competition (many sellers, differentiated products), and monopoly (a single seller).

A Market Dominated by a Few Large Sellers Who Sell