Question

Which of the following is the most common noncompetitive market structure in the United States? A. monopoly B. monopolistic competition C. oligopoly D. perfect competition

Answer 1

Answer:

C. Oligopoly

Explanation:

This is a market with small sellers and producers. It comprises of toe or more companies.There is usually a huge barrier and almost impossible for new competitors to enter into the market. This is due to the limited and small number of competitors the market usually has. An example of oligopoly is automobile companies which manufacture cars. There is usually a small number of competitors in such field.

Answer 2

Answer:

C. oligopoly  

Explanation:

Oligopoly is the most common noncompetitive market structure in the United States. Oligopoly is a type of market with low competition in which few companies have control over the market structure and supply of commodity. One competitor or firm is large enough to influence price and supply in this type of market. Apple, Coca-cola are examples of firms in an oligopoly.