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Markets

Oligopoly mar...

Question

Oligopoly market is also known as ______.

A

competition among the few

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B

competition between two

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C

cut throat competition

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D

no competition at all

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Solution

The correct option is B competition among the few
Oligopoly is a market situation in which there are few firms dominating in the market. The market is highly concentrated. Few firms are grouped in certain numbers. Hence, oligopoly of market is also known as competition among the few.

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