When a few firms sell similar products in a market, the market structure is most likely to be

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An oligopoly refers to a market structure where there are only a few firms that dominate the market and sell similar or identical products. The firms in an oligopoly tend to have a significant degree of market power and can affect prices and output levels in the industry. Therefore, an oligopoly is the most likely market structure when a few firms sell similar products.

When a Few Firms Sell Similar Products in a Market