question archive Economists would describe the U
Economists would describe the U
Subject:MarketingPrice:2.88 Bought3
Economists would describe the U.S. automobile industry as:
A. purely competitive
B. an oligopoly
C. monopolistically competitive
D. a pure monopoly
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Answer choice: B. an oligopoly
Explanation:
An oligopoly is a market that has limited competition and usually consists of a few suppliers. In the automobile industry in the United States these companies include Ford, Chrysler, and GMC. Other vehicles that you see on the road such as Toyota is manufactured in another country.
