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A market that is dominated by a few firms is called a(n) Select one: a. gerontology. b. theocracy. c. biopsy. d. oligopoly.
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A market that is dominated by a few firms is called a(n) Select one: a. gerontology. b. theocracy. c. biopsy. d. oligopoly.

User RAVITEJA SATYAVADA
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2 Answers

7 votes

Answer:

D. Oligopoly

Step-by-step explanation:

When a market is shared between a few firms, it is said to be highly concentrated. Although only a few firms dominate, it is possible that many small firms may operate in the market.

User Kostikas
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Answer:

The correct answer is letter "D": oligopoly.

Step-by-step explanation:

An oligopoly is when a market is controlled by a small group of two or more firms. Businesses in an oligopoly can agree to price collusion and create barriers to entry for new commerce. If the businesses do not, they would likely be forced to lower their prices and open the market for newer smaller firms.

User Manoj I
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