A particular industry has only a few competitors,who have some control over price.However,high start-up costs make entry into the industry difficult.This industry is an example of _____.

A) pure competition
B) monopolistic competition
C) an oligopoly
D) a pure monopoly

High Start-Up Costs

The significant initial investment required to establish a new business, which can include expenses related to research and development, manufacturing, marketing, and administrative infrastructure.

Few Competitors

A market condition where only a small number of firms operate, often leading to higher prices and reduced competition.

Oligopoly

Market structure in which relatively few sellers compete and high start-up costs form barriers to keep out new competitors.