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    Question

    Kodak & Fuji control the majority of sales for amateur photographic film. This exemplifies the competitive situation called:

    A an oligopoly. Correct Answer Incorrect Answer
    B a trilateral monopoly Correct Answer Incorrect Answer
    C unfair trade practice Correct Answer Incorrect Answer
    D collusion 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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