Which of the following best describes an industry composed of a limited number of large firms?
A) An oligopoly
B) A monopoly
C) An oligarchy
D) A perfectly competitive market

Question

Quizplus · Accepted Answer

An oligopoly is an industry composed of a limited number of large firms (e.g., an industry in which four firms control 80 percent of a domestic market would be defined as an oligopoly).

Which of the Following Best Describes an Industry Composed of a Limited