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Question
Which type of market structure is the following? Give reason.
Mobile phone services
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Solution
The market structure for mobile phone services is oligopoly.
Reason:
- In most countries, a few large corporations dominate the mobile phone service sector, including Verizon, AT&T, Vodafone, and Reliance Jio.
- However, they are also competing with each other, and their pricing and service decisions are interconnected, which is a major feature of an oligopolistic market.
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