Question

In which type of market structure only the few firms dominate?

A Oligopoly Correct Answer Incorrect Answer
B concentrated Correct Answer Incorrect Answer
C monopoly Correct Answer Incorrect Answer
D monopsony Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

An oligopoly is a market structure in which a few firms dominate. When a market is shared between a few firms, it is said to be highly concentrated.

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