New 55% Off on All Courses - Enroll Now! Click Here

    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.

    Practice Next