A market dominated by a small number of firms is called a(n):
A) oligopoly.
B) natural monopoly.
C) monopoly.
D) network market.

Name: A market dominated by a small number of firms is called a(n): A) oligopoly. B) natural monopoly. C) monopoly. D) network market.
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Question

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An oligopoly is a market structure in which a few large firms dominate the market. This can lead to limited competition, high barriers to entry for new firms, and control over prices and output.

A Market Dominated by a Small Number of Firms Is