A market structure where a small number of firms compete occurs in
A)perfect competition.
B)monopolistic competition.
C)the worldwide market for wheat, corn, and rice.
D)oligopoly.
E)monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure where a small number of firms compete. This can lead to competition through price wars, collusion, or other strategies that can limit competition and drive up profits for the firms involved. Examples of oligopolies include industries such as telecommunications, airlines, and supermarkets.

A Market Structure Where a Small Number of Firms Compete