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Why is the automobile industry considered an oligopoly?
It offers little differentiation within the market.
It has significant barriers to entry.
It is controlled by companies that patent key technology.
It relies on price variation to attract customers.
It depends on brand loyalty and image to generate sales.
It is dominated by a few key players.

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anthougo

The reasons that the automobile industry is an oligopoly in market economics are because of B. It has significant barriers to entry and F. It is dominated by a few key players.

  • An oligopoly is a market condition where the possibility of firms colluding with each other exists.

  • Firms in this market are interdependent, especially with regards to pricing.

  • Oligopolistic firms differentiate their products, and they have few producers.

  • There are barriers to entry.

Thus, an oligopoly limits entries to a few key players who dominate the market.

Learn more: https://brainly.com/question/23970210

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.

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