Asked by Emily Freeman on Apr 26, 2024
Verified
Use your basic knowledge and your understanding of market structures to answer this question.Which of the following companies most closely approximates a differentiated oligopolist in a highly concentrated industry?
A) Subway Sandwiches.
B) Pittsburgh Plate Glass.
C) Ford Motor Company.
D) Kaiser Aluminum.
Highly Concentrated Industry
An industry where a small number of firms hold a large market share, leading to reduced competition.
Ford Motor Company
An American multinational automaker founded by Henry Ford, known for revolutionizing the automobile industry with its assembly line production method.
- Compare and contrast homogeneous with differentiated oligopolies.
- Identify examples of oligopolistic industries.
Verified Answer
SP
sarani pavithraApr 28, 2024
Final Answer :
C
Explanation :
A differentiated oligopolist is a company that produces a differentiated product and competes with a few other similarly structured firms. The highly concentrated industry means that it is dominated by a few large firms. Ford Motor Company produces differentiated automobiles and competes with other large firms such as General Motors and Toyota. Therefore, Ford Motor Company is the best choice that closely approximates a differentiated oligopolist in a highly concentrated industry.
Learning Objectives
- Compare and contrast homogeneous with differentiated oligopolies.
- Identify examples of oligopolistic industries.
Related questions
Use Your Basic Knowledge and Your Understanding of Market Structures ...
Which of the Following Is the Best Example of Oligopoly ...
Which of the Following Industries Is an Illustration of Homogeneous ...
Differentiated Oligopoly Exists Where a Small Number of Firms Are ...
Use Your Basic Knowledge and Your Understanding of Market Structures ...