Question

question 15
an automobile manufacturer is one of three companies that sells all - electric pickup trucks. its new model will be available for consumer purchase in the fall, and the company is determining at what price point it wants to sell it.
in which of these economic markets is the automobile manufacturer most likely operating?
monopoly
oligopoly
monopolistic competition
perfect competition

Explanation:

In an oligopoly, there are a few large firms dominating the market. Here, there are three companies selling all - electric pickup trucks, which fits the characteristic of an oligopoly. A monopoly has one firm, monopolistic competition has many firms with differentiated products, and perfect competition has many firms with identical products and free entry/exit.

Answer:

B. Oligopoly