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Asked by Sienna Capellas on Jun 07, 2024

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Which of the following industries is an illustration of homogeneous oligopoly?

A) Household laundry products.
B) Personal computers.
C) Aluminum.
D) The auto industry.

Homogeneous Oligopoly

A market structure characterized by few sellers offering products that are identical or very similar, making competition based mostly on price.

Household Laundry Products

A category of consumer goods including detergents, fabric softeners, and stain removers used in the washing of clothes.

Aluminum

A lightweight, silvery-white metallic element used in a wide range of applications including transportation, construction, and packaging due to its durability and resistance to corrosion.

  • Examine the differences between alike and varied oligopoly markets.
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ZK
Zybrea KnightJun 08, 2024
Final Answer :
C
Explanation :
Homogeneous oligopoly refers to a market situation where firms produce and sell identical or almost identical products. In the aluminum industry, there are a few large firms that dominate the market, and their products are nearly identical, making it an example of homogeneous oligopoly. The other industries mentioned (household laundry products, personal computers, and the auto industry) have product differentiation, making them examples of differentiated oligopoly.

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