ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Verizon is part of the Oligopoly industry. They share the market with business like Sprint, AT&T and T-Mobile. This means that Verizon is part of a dominated business group that controls 70-80% of the cellular market.

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: -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-5: -Answer and Explanation: Oligopoly market structure. Cell phone companies such as T-mobile and ATT belong to the Oligopoly market since several cell phone production firms compete against one another.