9
QuizMultiple Choice

Market Structures and Competition

Question 9 • * HSA 26-27 Economics

In the United States, which type of industry is often considered part of an oligopoly?

Answer
l
local electric utility service
c
cell phone carrier service
U
USPS letter-mail service
r
retail denim sales

Explanation

An oligopoly is a market dominated by a small number of large firms. Cell phone carrier service in the United States is often considered an oligopoly because a few major carriers serve most customers. Local electric utilities are typically monopolies in their service areas, while retail denim sales involve many competing sellers.

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