Question

What is oligopoly?

Question 4 options:

It is a market structure in which prices are always similar.


It is a market structure in which a very few large sellers dominate the industry.


It is a market structure in which products are always different.


It is a market structure in which products are always similar.

Answer 1

A state of limited competition in which a market is shared by a small number of producers or sellers.

Answer 2

The answer you're looking for is B

Step-by-step explanation:

Definition: market structure in which a few large sellers dominate and have the ability to affect prices in the industry; form of imperfect competition