The kind of industry in which sellers of commodities such as paper, fertilizer and steel is classified as ________?
Correct answer: B. oligopolistic industry
- A. every day competitive industry
- B. oligopolistic industry
- C. monopolistic industry
- D. pure competition industry
Explanation
Paper, fertilizer, and steel are typically produced by a small number of large firms, making these industries oligopolistic. Pure competition would involve many sellers offering largely identical products with little individual market power.
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