Which of the following is the best example of an oligopoly?
A) area restaurants
B) the automobile industry
C) agricultural markets free of government support
D) local utilities

Question

Quizplus · Accepted Answer

The automobile industry is the best example of an oligopoly as there are only a few large firms that dominate the market and have significant control over pricing and production. Area restaurants, agricultural markets, and local utilities may have some degree of competition, but they do not exhibit the same characteristics of an oligopoly.

Which of the Following Is the Best Example of an Oligopoly