Answered

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Which situation describes an oligopoly market structure?

A. One company builds and sells all of the cars available in a developing country.
B. A government gives one company full control over water treatment in a city.
C. Solar panels are only available from two companies operating in a country.
D. Many different vendors sell the same few T-shirt designs to fans at a concert.

Sagot :

GinnyAnswer

Final answer:

An oligopoly market structure involves a few large firms dominating a market, leading to interdependence and limited competition.


Explanation:

An oligopoly market structure is characterized by a market dominated by a few large firms that possess significant market power, thus preventing smaller firms from entering. Interdependence among firms is a key feature, where decisions made by one firm directly affect others. An example of an oligopoly is when only two companies operate in a country selling a particular product, such as solar panels.


Learn more about Oligopoly market structure here:

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