The brewing industry is dominated by a small number of very large producers who sell a differentiated product. The market structure that best fits the brewing industry is probably
A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.

Question

Quizplus · Accepted Answer

The brewing industry is characterized by a few large producers, which is a hallmark of an oligopoly. These companies have significant market power and sell differentiated products, distinguishing them from perfect competition and monopolistic competition, where there are many sellers. It's not a monopoly because there is more than one producer.

The Brewing Industry Is Dominated by a Small Number of Very