Respuesta :
Right option: An oligopoly is an industry structure which is characterized by few firms, and high barriers to entry. In an oligopoly, the firms typically have significant control over the price of the goods or services, as there is limited competition.
Oligopoly in the US Market with Two Competitors
In the United States, an industry with only two other competitors is likely characterized as an oligopoly. This is because an oligopoly is an industry structure which is characterized by few firms, and high barriers to entry. In an oligopoly, the firms typically have significant control over the price of the goods or services, as there is limited competition.
This is unlike a perfectly competitive market, in which many firms can enter and exit the market freely, and prices are determined by the forces of supply and demand. Similarly, a pure monopoly only has one firm in the market, and a monopolistically competitive market has many firms that produce slightly differentiated products.
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