ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Hollister Jeans
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Raceway Gasoline
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Great Value Milk
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Delta Airline Flights
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Detailed explanation-1: -Two of the biggest firms in this market are Southwest Airlines and Delta Airlines. The industry is an example of an oligopoly as only a small number of firms sell their services in a market with high barriers to entry.
Detailed explanation-2: -The airline industry is characterized by an oligopoly market structure, a form of imperfect competition in which a limited number of firms dominate the industry.
Detailed explanation-3: -Some examples of oligopolies include the car industry, petrol retail, pharmaceutical industry, coffee shop retail, and airlines. In each of these industries, a few large companies dominate.
Detailed explanation-4: -AT&T (T) Comcast (CMCSA) Walt Disney (DIS) Charter Communications (CHTR)