Question

An oligopoly is a market for a good or service that (5 points)

has few competitive firms
is perfectly competitive
has one buyer
has one seller

Answer 1

I know its to late but it would be "A" or "has few competitive firms"

Answer 2

The correct option is the first one; An oligopoly is a market for a good or service that has few competitive firms.

An oligopoly is a market form or industry dominated by a small number of large sellers known as oligopolists. Oligopolies generally result in a reduction of competition and thus higher prices for consumers.