The market for hand tools (such as hammers and screwdrivers) is dominated by Draper, Stanley and Craftsman. This market is best described as :
A. Monopolistically competitive
B. A monopoly
C. An oligopoly
D. Perfectly competitive
Answer:C
The market for hand tools (such as hammers and screwdrivers) is dominated by Draper, Stanley and Craftsman. This market is best described as :
A. Monopolistically competitive B. A monopoly C. An oligopoly D. Perfectly competitive