What is an oligopoly? Give two examples of oligopolistic industries in the United States
What will be an ideal response?
Oligopoly is a market structure in which a small number of interdependent firms compete. Examples include cigarettes, beer, the airline industry, computer manufacturers, and the aluminum can industry.
Economics
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What is an accurate implication resulting from an increase in income?
A) an increase in exchange rate B) a decrease in exchange rate C) a decrease in consumption D) a decrease in output E) an increase in consumption
Economics
In the long run, monopolistically competitive firms earn zero economic profits.
Answer the following statement true (T) or false (F)
Economics