A(n) _____ refers to an industry dominated by a small number of players.

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An oligopoly is an industry structure in which a small group of dominant firms controls the majority of the market share, creating a situation of limited competition. The firms in an oligopoly may work together to set prices or collectively decide output levels to maximize profits, making it difficult for new entrants to break into the market. An example of an oligopoly is the telecommunications industry, where a few large firms dominate the market, such as AT&T, Verizon, and T-Mobile.

A(n) _____ Refers to an Industry Dominated by a Small