An industry comprised of four firms,each with about 25 percent of the total market for a product,is an example of:
A) monopolistic competition.
B) oligopoly.
C) pure monopoly.
D) pure competition.

Question

Quizplus · Accepted Answer

An industry with four firms, each with about 25 percent of the total market, is an example of an oligopoly. Oligopoly is a market structure in which a few large firms dominate the industry and are able to influence price and other factors.

An Industry Comprised of Four Firms,each with About 25 Percent