12
QuizMultiple Choice

Market Structures and Competition — Unit test

Question 12 • * HSA 26-27 Economics

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

Answer
A
electric companies
B
cell phone carriers
C
mail delivery services
D
denim companies

Explanation

An oligopoly is a market dominated by a small number of large firms. In the United States, a few major cell phone carriers serve most customers, so cell phone carriers are often considered an oligopoly. Denim companies, by contrast, face many competing producers.

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