which of the following industries most closely approximate to oligopolistic
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Explanation:
An oligopoly is a market form wherein a market or industry is dominated by a small number of large sellers
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The airlines industry are most closely approximate to oligopolistic
Explanation:
- Oligopolistic market is made up of small entities which are independent in their working and they have no influence on each other. The airline industry and automobile industries are some of the examples of the oligopolistic markets
- The oligopolistic market firms do not compete with each other because even if they did they do not achieve any significant profits. On the other hand if they behave in the markets like a monopolistic firm then they are able to achieve significant profits
- The firm in the oligopolistic markets are not in competition with each other in regards to prices or any other factor. They prefer to market their products through product differentiation, market strategies, methods of advertising and more
To know more about oligopolistic markets
Differentiate features Monopolistic & Oligopolistic Markets
https://brainly.in/question/6800068
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