Question

There are fewer than half as many publishers of college textbooks in the United States now as a generation ago. Three companies alone account for almost two-thirds of the sale of new textbooks. This market situation characterized by very few sellers is known as

Answer 1

Answer:

oligopoly

Explanation:

According to my research on different franchise characterizations , I can say that based on the information provided within the question this market situation is known as an oligopoly. This term is defined as a market structure in where very few organizations control the whole market. This is situation that is being described in the question.

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