Which situation could be the best example of an oligopoly?
1) a new producer of power tools has entered the market and is relying on low prices to attract consumers.
2) a new producer of computers has entered the market and found that advertising is more useful than lowering prices.
3) a new producer of running shoes is trying to enter the market but cannot because of an existing patent.
4) a new producer of tires has entered the market and found that demand is already being met.

the correct answer is modern american cars are not available due to trade restrictions.

trade between cuba and the united states have serious restrictions. the u.s. imposed an economic embargo on cuba, that among other things means that modern american cars are not available due to trade restrictions.

in response to some governmental actions of the authorities from cuba, president john f. kennedy proclaimed an embargo on trade between both countries in february 1962. the trade embargo remains active until this day and was implemented directly by the departments of commerce and the department of treasury.

in president trump’s administration, there is a national security presidential memorandum that "strengthens the policy of the u. s.", affecting trade with cuba.

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