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An industry that is dominated by a few large firms is typically characterized as having an _____ market structure
An industry that is dominated by a few large firms is typically characterized as having an _____ market structure.
a) Monopolistic competition
b) Monopoly
c) Perfect competition
d) Oligopoly
Expert Solution
The correct answer is option d) Oligopoly
Explanation
When the market is dominated by a few large firm then such a market structure is called oligopoly. So the correct answer is option d)
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