A market where a few firms produce most of the output or sales is called:
A) oligopolistic.
B) monopolistically competitive.
C) perfectly competitive.
D) monopolistic.

Question

Quizplus · Accepted Answer

An oligopolistic market is characterized by a few large firms dominating the production and sale of a particular product or service. These firms have significant market power, which allows them to influence prices and restrict competition. Examples of oligopolistic markets include the automobile, airline, and soft drink industries.

A Market Where a Few Firms Produce Most of the Output