Why is the automobile industry considered an oligopoly?

A. It offers little differentiation within the market.

B. It has significant barriers to entry.

C. It is controlled by companies that patent key technology.

D. It relies on price variation to attract customers.

E. It depends on brand loyalty and image to generate sales.

F. It is dominated by a few key players.

Answer

B: It has significant barriers to entry. E: It depends on brand loyalty and image to generate sales. F: It is dominated by a few key players.