Multiple choice

Oil industry is an example of which of the following industries?

  1. Pure oligopoly<o:p></o:p>

  2. Differentiated oligopoly<o:p></o:p>

  3. Monopoly<o:p></o:p>

  4. Monopolistic competition<o:p></o:p>
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Oil industry is an example of pure oligopoly in which a few companies producing the same commodity find it hard to charge more than the going price.

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