31
QuizMultiple Choice

Market Structures and Competition — Quiz

Question 31 • Personal Finance and Economics

In the United States, which type of industry is often considered part of an oligopoly?

Answer
A
electric companies
B
mail delivery services
C
cell phone carriers
D
denim companies

Explanation

An oligopoly is a market dominated by a small number of large firms. In the United States, a few major cell phone carriers hold much of the market, so cell phone carriers are often considered an oligopoly. Electric companies are more commonly regulated monopolies in the areas they serve.

AI-written and checked against the verified answer.

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