A market that consists of only a few large firms is probably a:
A)monopoly.
B)perfectly competitive market.
C)monopolistically competitive market.
D)oligopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure characterized by a few large firms that dominate the industry. In an oligopoly, the firms have significant market power and can influence the price of goods and services. Therefore, an oligopoly is the most likely market structure if there are only a few large firms in the market.

A Market That Consists of Only a Few Large Firms