Question

The airline industry requires substantial investments in equipment or technology to produce a product. As a​ result, there are a relatively small number of​ sellers, each holding substantial market​ share, in a market with many buyers. Because there are few​ sellers, the actions of each directly affect the others. This is an example of​ ___________.

Answer 1

Answer:

This is an example of an Oligopoly

Explanation:

Oligopoly is a market structure where a few number of firms, usually two or more firms, which gives high market shares to those firms involved, but the number of firms must be low enough for one firm's actions to significantly influence other firms