Which of the Following Examples Illustrates an Oligopoly Market

question 123

Multiple Choice

Which of the following examples illustrates an oligopoly market?

• A)a farmers' market with many individuals selling sweet corn and tomatoes
• B)a city whose electrical service is provided by one electric co-operative
• C)a city with two firms who are licensed to sell school uniforms for the local schools
• D)a city with many independently-owned hair styling salons

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Definitions:

Operating Expenses

Costs associated with the day-to-day functions of a business that are not directly tied to the production of goods or services.

Business Process Re-engineering

A strategy for redesigning the way work is done to better support the organization's mission and reduce costs.

Company's Business Objectives

The specific and measurable goals a company aims to achieve over a certain period of time to ensure growth and success.

Traditional Approach

A conventional method or strategy that has been widely used over time, often contrasted with more innovative or modern methods.