form of competition where just a few companies control the majority of industry sales is referred to as __________.
A) pure competition
B) cross-market competition
C) an oligopoly
D) monopolistic competition
E) a monopoly

Question

Quizplus · Accepted Answer

An oligopoly is a form of competition where just a few companies control the majority of industry sales. Pure competition is a market with a large number of small firms. Cross-market competition refers to competition between companies that produce unrelated products or services. Monopolistic competition is a market with many producers selling differentiated products. A monopoly is a market with only one producer.

Form of Competition Where Just a Few Companies Control the Majority