A market situation in which only a few brands control the market is called a(n)

Name: A market situation in which only a few brands control the market is called a(n)
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Question

Quizplus · Accepted Answer

An oligopoly is a market situation in which only a few brands or companies control the market. This means that the market is dominated by a small number of large players, making it difficult for new companies to enter the market. Oligopolies often result in higher prices for consumers and limited choices. Therefore, E is the best choice.

A Market Situation in Which Only a Few Brands Control