An industry composed of a limited number of large firms is referred to as a(n):
A)syndicate.
B)monopoly.
C)oligopoly.
D)mushrooming industry.

Name: An industry composed of a limited number of large firms is referred to as a(n): A)syndicate. B)monopoly. C)oligopoly. D)mushrooming industry.
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Question

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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).

An Industry Composed of a Limited Number of Large Firms