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market structures and competition quiz complete 1 2 3 time remaining 58…

Question

market structures and competition
quiz complete
1 2 3
time remaining
58:59
in an oligopolistic market, consumer choice is
nonexistent.
limited
extensive.
infinite.
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Explanation:

Brief Explanations

In an oligopolistic market, there are a few large firms. The number of firms is small, so the number of products or services available for consumers to choose from is not as many as in a competitive market (like perfect competition) but also not zero (as in a monopoly). So consumer choice is limited. "Nonexistent" is wrong (there are choices, just limited), "extensive" and "infinite" are wrong as the number of firms is small, so choices can't be extensive or infinite.

Answer:

B. limited