Which of the following from of market organization is the most prevalent in the manufacturing sector?
Oligopoly is the most prevalent form of market structure in the modern manufacturing sector (such as automobiles, steel, cement, aluminum, and electronics). Significant…
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Which of the following from of market organization is the most prevalent in the manufacturing sector?
Answer and explanation
Correct answer C
Oligopoly is the most prevalent form of market structure in the modern manufacturing sector (such as automobiles, steel, cement, aluminum, and electronics). Significant economies of scale, high capital requirements, and technological barriers result in a few large interdependent firms dominating industry output.
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UGC NET Commerce