question archive Which of the following markets is most likely to be an oligopoly? A) household appliances B) local utilities C) the retail trade D) the market for agricultural products E) stock markets
Which of the following markets is most likely to be an oligopoly? A) household appliances B) local utilities C) the retail trade D) the market for agricultural products E) stock markets
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Which of the following markets is most likely to be an oligopoly?
A) household appliances
B) local utilities
C) the retail trade
D) the market for agricultural products
E) stock markets
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Option A) household appliances is correct
This option is correct because household appliances are an example of an oligopoly market. In an oligopoly market, different products are sold at different prices. These products are known as heterogeneous products. There are barriers to entry or exit of new firms because few firms have control in the industry.
