APEX ECON
Only two large
corporations sell cars in a country. Though they sometimes
compete for customers, the corporations have agreed never to lower their
prices below a certain level. They also operate in different parts of the
country so that few consumers have a real choice between the companies.
As a result, the companies have little direct competition.
This situation bestillustrates which market condition?
A. Monopoly
B. Monopolistic competition
C. Pure competition
D. Oligopoly