Asked by Rachel Moses on Mar 10, 2024



The market structure that is characterized by only a small number of producers is:

A) oligopoly.
B) perfect competition.
C) monopoly.
D) monopolistic competition.


A market structure characterized by a small number of firms whose actions significantly affect each other.


Individuals or businesses involved in the creation of goods and services for sale in the market.

Market Structure

The organizational and other characteristics of a market that influence the nature of competition and pricing.

  • Understand the definition and characteristics of oligopoly.

Verified Answer

Dalia Bonilla

Mar 10, 2024

Final Answer :
Explanation :
An oligopoly market structure is characterized by a small number of producers who have significant control over the market. In an oligopoly, each producer can influence prices and decisions made by other producers. This type of market structure is common in industries such as telecommunications, automobile, and airline industries.