Respuesta :
a. This sector of the economy is perhaps best described as oligopolistic.
b. Businesses in this sector should generate a profit.
c. Economic profits are expected to decrease if international companies start supplying the goods, adding to the number of rivals.
What does the term "market oligopoly" actually mean?
Oligopoly markets are dominated by a small number of providers. They are found in every country and in many different sectors. Although they may initially appear to be competitive, certain oligopoly marketplaces are significantly less so.
Throughout history, oligopolies have existed across a wide range of businesses, including those that produce steel, oil, railroads, tires, grocery store chains, and wireless carriers. Other industries with an oligopoly structure include pharmaceuticals and aviation.
How do you spot an oligopoly?
Concentration ratios, which quantify the percentage of the overall market share held by a certain number of companies, can be used to spot oligopolies. When an industry has a high concentration ratio, economists frequently classify it as an oligopoly.
Learn more about Oligopoly markets: https://brainly.com/question/15243178
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