Question

why is the automobile industry considered an oligopoly? it offers little differentiation within the market. it has significant barriers to entry. it is controlled by companies that patent key technology. it relies on price variation to attract customers. it depends on brand loyalty and image to generate sales. it is dominated by a few key players.

Explanation:

An oligopoly is a market structure dominated by a few large firms. High barriers to entry, such as high - cost production facilities and patented key technology, prevent new competitors from easily entering. The automobile industry has significant barriers to entry like large - scale manufacturing requirements and key technology patents. Also, it is dominated by a few key players.

Answer:

It has significant barriers to entry, It is controlled by companies that patent key technology, It is dominated by a few key players.