Kodak,Fuji,and Agfa control the majority of sales for amateur photographic film.This exemplifies the competitive situation called:
A)an oligopoly.
B)a trilateral monopoly.
C)unfair trade practice.
D)collusion.

Question

Quizplus · Accepted Answer

An oligopoly is a market situation where a few large firms dominate the market and control the majority of sales. Kodak, Fuji, and Agfa control the majority of sales for amateur photographic film, indicating an oligopoly market structure.

Kodak,Fuji,and Agfa Control the Majority of Sales for Amateur Photographic