Liquor stores in Los Angeles is not an oligopoly. Therefore, the correct answers will be (d).
A market structure known as an oligopoly has a small number of enterprises, each of which cannot prevent other from having a large impact. The share of the market of the largest companies is calculated using the concentration.
A market with a monopoly has just one company, a partnership has two businesses, as well as an oligopoly has three or more businesses. The maximum number of companies inside an oligopoly is unknown, but it has to be low enough such that each firm's activities have a major impact on the others. An oligopoly can prevent new companies from entering the market, stifle innovation, and raise the prices, which are all harmful to customers.
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