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Question

The competitive situation where airtel, idea, and Jio control over 90 percent of the mobile phone market is called a(n):

A monopoly Correct Answer Incorrect Answer
B oligopoly Correct Answer Incorrect Answer
C collusion Correct Answer Incorrect Answer
D monopolistic competition Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

An oligopoly occurs when a few companies control the majority of industry sales.

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