Which market is most likely to be characterized by oligopolistic competition in the United States?
A)soybeans
B)pens and pencils
C)commercial airline travel
D)men's clothing
E)electrical service to the home

Question

Quizplus · Accepted Answer

Commercial airline travel is an industry in which only a few large firms dominate the market, leading to oligopolistic competition. The barriers to entry (e.g. high startup costs, government regulations, limited routes and landing slots) make it difficult for new firms to compete with established players like Delta, United, and American Airlines.

Which Market Is Most Likely to Be Characterized by Oligopolistic