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Question

Oligopoly is the state where there are many competitors within a single market.The Pepsi Company realizes that its operations are in competitive industries.


Which of the following conclusions may be inferred from the above?
 
  1. Pepsi's market is not oligopolistic.
  2. Monopoly is defined as one seller in a market.
     
  3. The Pepsi Company has a lot of domestic competition.
  4. The Pepsi Company is operating in an oligopolistic market.
  5. Monopoly and oligopoly are similar markets.


Solution

The correct option is D The Pepsi Company is operating in an oligopolistic market.
The passage starts off by explaining what an Oligopoly is. It then moves on to the fact that Pepsi feels they are in a very competitive market. Going by the definition of oligopoly, we can infer that Pepsi is in an oligopolistic market. This is given in option (d)

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