The cement market in Erbia is dominated by four firms. These firms con
QUESTION
The cement market in Erbia is dominated by four firms. These firms control 85 percent of selling and buying of the domestic market. Which of the following terms explains the market structure of the cement industry in Erbia?
A. Perfect competition
B. Monopoly
C. Oligopoly
D. Dual monopoly
E. Monopsony
ANSWER
C
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