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

Question

Quizplus · Accepted Answer

An oligopoly is a market structure where there are only a few firms that dominate the market. This allows them to have significant control over prices and competition. Examples of oligopolies include the telecommunications industry and the airline industry.

A Market That Consists of Only a Few Large Firms