15. When the market is run by a small number of firms that together control the majority of market share is known as a)Oligopoly
b)Duopoly
c)Oligopsony
d)Perfect competition
Answers
Answered by
1
Answer:
no C
Explanation:
is the right answer
it may be helpful
Answered by
1
Explanation:
Oligopoly
Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence. The concentration ratio measures the market share of the largest firms. A monopoly is one firm, a duopoly is two firms and an oligopoly is two or more firms.
HENCE OPTION C IS CORRECT
Similar questions