Examlex
Which statement is correct?
Oligopoly
A market structure characterized by a small number of large firms dominating an industry, often resulting in limited competition.
Large Producers
Entities that produce goods or services at a high volume, often dominating the market or industry sector they operate within.
Pure Competition
A term synonymous with purely competitive industry, denoting a market scenario where numerous firms offer identical products, ensuring no singular entity can control the market price.
Monopolistic Competition
A market structure where many firms sell similar but not identical products, allowing for some degree of market power.
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