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A market where a few firms produce most or all of the output is an:
AObservation
BOligopoly
CObligation
DOccupation
Answer & Solution
Correct answer: B. Oligopoly
1. More than one firm exists.
2. But only a handful matter.
3. It is an oligopoly.
_Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._
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