When the market is dominated by a few firms, each selling similar products, it is called a(n):

Name: When the market is dominated by a few firms, each selling similar products, it is called a(n):
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An oligopoly is a market structure in which a few firms dominate the market, often selling similar or slightly differentiated products. This contrasts with a monopoly (one firm), purely competitive markets (many firms, homogeneous products), and other market structures.

When the Market Is Dominated by a Few Firms, Each