Question

Which of the following are products or services of oligopolists that you regularly purchase or own?

1) Clothing stores, office supplies, and personal computers
2) Refrigerators, bakery goods, and courier services
3) Ovens, refrigerators, and hair salon services
4) Automobiles, personal computers, and gasoline

Answer 1

Clothing stores, personal computers, automobiles, and gasoline are products or services of oligopolists that you regularly purchase or own.

Step-by-step explanation:

Oligopolies are market structures where a small number of large firms dominate the industry. Examples of oligopoly markets include the auto industry, cable television, and commercial air travel. Oligopolistic firms often produce differentiated products and their decisions about pricing and quantity produced depend on the decisions of other firms.

Based on the options given, the products or services of oligopolists that you may regularly purchase or own are:

1. Clothing stores - Many clothing stores are part of an oligopoly, where a small number of firms have a significant share of sales.
2. Personal computers - The personal computer market is dominated by a few large firms, making it an oligopoly.
3. Automobiles - The auto industry is a classic example of an oligopoly with a few major players.
4. Gasoline - Gasoline is often produced by a few large firms, making it part of an oligopoly market.