24) In the U. s. economy, a few firms dominate the wireless telephone provider Industry. Whlch type of market structure does this represent? (SSEMT36 DOK: 2)
oligopoly
B. monopoly
C. pure competitilon
D. monopolistic competitlon

oligopoly

Explanation:

An oligopoly is a market structure comprising a few firms dominating a large market with many buyers. The few firms sell similar or differentiated products. Each of the firms commands a sizable market share and can influence the market.  Apart from the few dominating firms, there could be other small sellers with a smaller market share operating in the market. Another example of an oligopoly market is the air travel business, where a few airline companies dominate the market.

Characteristics of oligopoly market include

answer; common market;