New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    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.

    Practice Next