A market situation in which there are a few large firms is called
A) monopolistic competition.
B) imperfect competition.
C) oligopoly.
D) monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market situation in which there are a few large firms dominating the industry. These firms have significant control over the market, which makes it difficult for smaller firms to enter and compete. Oligopolistic markets often lead to higher prices and limited choices for consumers.

A Market Situation in Which There Are a Few Large