According to a recent Federal Communications Commission report,AT&T,Verizon,Sprint-Nextel,and T-Mobile control 93 percent of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?
A)pure competition
B)limited competition
C)a monopoly
D)an oligopoly
E)monopolistic competition

Question

Quizplus · Accepted Answer

The fact that four companies control 93 percent of the market indicates an oligopoly, characterized by a small number of large firms dominating the market.

According to a Recent Federal Communications Commission Report,AT&T,Verizon,Sprint-Nextel,and T-Mobile Control