The airline and long-distance telephone service industries are examples of

Question

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Both the airline and long-distance telephone service industries are examples of oligopolies, where a small number of large firms dominate the market. This can lead to pricing strategies that are similar across these companies, as they closely watch and respond to each other's actions. However, there is still some level of competition as new airlines or telephone providers can enter the market, but it can be difficult due to the high barriers to entry.

The Airline and Long-Distance Telephone Service Industries Are Examples of