Why is the automobile industry considered an oligopoly? it offers little differentiation within the market. it has significant barriers to entry. it is controlled by companies that patent key technology. it relies on price variation to attract customers. it depends on brand loyalty and image to generate sales. it is dominated by a few key players.

Oligopoly is a market structure with a small number of firms which significant influence over an industry.

The automobile industry is considered an oligopoly because it is dominated by a few key players. This means that it consists mainly of few major firms.

Because of this, the consumers choice in a oligopolistic market  is limited.

It is dominated by a few key players.

An oligopoly is a market form wherein a market or industry is dominated by a small number of key sellers. Dominance of a small number of key players results in limited competition  

answer; the above statement is (false);