The market for widgets is divided as follows: Wally's Widgets has 45 percent of the market; Willy's Widgets has 22 percent of the market; Woody's Widgets has 10 percent of the market; and Wanda's Widgets has 8 percent of the market. The other 542 firms in the widget industry have the remaining 15 percent of the market. How would you describe the widget market?
It's an unbalanced oligopoly because sales of the 4 leading firms make up the larger share of the market
and are distributed unevenly among them.
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Prior to 2008, some Eurozone nations were______; others were ______, which resulted in ______.
A) large external debtors; large external creditors; a credit-fueled boom B) irresponsible; trying to pick up the slack; lackluster overall performance C) inflation hawks; inflation biased; overall mild inflation D) worried the ECB was not minding the situation; not worried at all; some nations exiting the Eurozone
The exchange-rate effect is the idea that a higher U.S. price level causes the value of the dollar to increase in foreign exchange markets, and this effect contributes to the downward slope of the aggregate-demand curve
a. True b. False Indicate whether the statement is true or false