Question

What is a good example of an oligopoly? a. Car engine shop bAirlines Retail clothing d Farms

Answer 1

[AI-generated answer — Bot GPT 3.5]

b. Airlines

Airlines can be a good example of an oligopoly. In many countries, there are only a few major airlines that dominate the market. These airlines have significant market power and control prices, routes, and services. They often engage in non-price competition, such as offering frequent flyer programs and luxurious amenities, in order to attract and retain customers.