The Cell-Phone Market Can Be Considered A(n)________ Because ________

The cell-phone market can be considered a(n) ________ because ________.

A) oligopoly; there are large profits for the firms that dominate the market
B) monopoly; Apple makes the largest profit in the market
C) monopolistically competitive market; the few firms make a profit and produce a variety of phones
D) oligopoly; there are few barriers to entry
E) monopolistically competitive market; the firms charge a markup over marginal cost

Correct Answer:

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