ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Explanation: The mobile phone operators market in India is an example of oligopoly. Various purchases that individuals make at the retail level which are produced in markets that are neither perfectly competitive, monopolies, nor monopolistically competitive. Instead, they are oligopolies.

Detailed explanation-2: -It is an example of an oligopoly market form. This is because the firms Sprint, AT&T, Verizon, and T-Mobile own about 95% of the market share of the U.S. cellular market. This means that these few firms dominate in the market, which is a characteristic of an oligopoly market form.

Detailed explanation-3: -As oligopoly is considered to be a market structure where only few companies are competing, smartphones are an excellent example due to the fact that there are only two sellers that do-minate on the market.

Detailed explanation-4: -Throughout history, there have been oligopolies in many different industries, including steel manufacturing, oil, railroads, tire manufacturing, grocery store chains, and wireless carriers.

Detailed explanation-5: -The cell phone industry is an oligopoly because, there are four large firms that are competeing to produce 70 to 80% of the out put.