The four largest firms account for approximately 90% of U.S. beer sales. The U.S. beer industry would be best classified as a(n)

A) perfectly competitive industry.
B) monopolistically competitive industry.
C) oligopoly.
D) monopoly.

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Oommen George · Accepted Answer

Final Answer : C, Explanation :  The U.S. beer industry is best classified as an oligopoly because a small number of firms (in this case, four) control a large majority of the market share (approximately 90% of U.S. beer sales), which is a characteristic feature of an oligopoly.

The four largest firms account for approximately 90% of U.S. beer sales. The U.S. beer industry would be best classified as a(n)

A) perfectly competitive industry.
B) monopolistically competitive industry.
C) oligopoly.
D) monopoly.

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The four largest firms account for approximately 90% of U.S. beer sales. The U.S. beer industry would be best classified as a(n) A) perfectly competitive industry.B) monopolistically competitive industry.C) oligopoly.D) monopoly.

Definitions

Learning Objectives

Learning Objectives

Related questions

The four largest firms account for approximately 90% of U.S. beer sales. The U.S. beer industry would be best classified as a(n)

A) perfectly competitive industry.
B) monopolistically competitive industry.
C) oligopoly.
D) monopoly.