In Canada, the market for cell phones has many competitors, each offering a unique marketing mix. This is an example of an oligopoly.

Question

Quizplus · Accepted Answer

This scenario describes a competitive market rather than an oligopoly. In an oligopoly, only a few firms dominate the market, whereas a market with many competitors indicates a more competitive or possibly a monopolistic competition environment.

In Canada, the Market for Cell Phones Has Many Competitors