Which one of the following is the best example of an oligopolistic industry?

Question

Quizplus · Accepted Answer

Long-distance telephone service is the best example of an oligopolistic industry because there are only a few large firms (e.g. AT&T, Verizon, Sprint) that dominate the market and compete with one another. These firms have significant market power and can influence prices, output, and other market variables. In contrast, wheat growers and apple growers are typically part of a competitive industry where there are many small firms that have little market power. Public utilities, depending on the market and regulations, may be monopolistic or competitive, but they do not fit the definition of an oligopoly as there are usually multiple utilities serving different regions.

Which One of the Following Is the Best Example of an Oligopolistic