The retail gas market, where a small number of firms control a large majority of the market, is an example of a(an) _____.

Question

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Section 1 of the Sherman Act concerns the behavior of one or more firms acting in agreement with each other. The result is that there is a gap in coverage in industries where there are a few competitors who own the entire market. This type of market is called an oligopoly, or, more recently, a shared monopoly.

The Retail Gas Market, Where a Small Number of Firms