-In Exhibit L-2, the table shows the market shares of five firms that operate in three different industries. According to the text, Industry I would be classified as a
A) balanced oligopoly
B) unbalanced oligopoly
C) price leadership oligopoly
D) cartel
E) price discriminating oligopoly

Question

-In Exhibit L-2, the table shows the market shares of five firms that operate in three different industries. According to the text, Industry I would be classified as a
A) balanced oligopoly 
B) unbalanced oligopoly 
C) price leadership oligopoly 
D) cartel 
E) price discriminating oligopoly

Quizplus · Accepted Answer

A balanced oligopoly is characterized by a market where a few firms have similar market shares, indicating no single firm dominates the market.

-In Exhibit L-2, the Table Shows the Market Shares of Five