When one firm possesses a large share of the market but competes against numerous small firms each offering identical products, such markets are called
A) Oligopoly markets
B) Dominant firm markets
C) Differentiated markets
D) Homogenous product markets

Question

Quizplus · Accepted Answer

This describes a Dominant firm market in which one large firm controls the majority of the market share but faces competition from small firms that offer the same products.

When One Firm Possesses a Large Share of the Market