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21-01-2021
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if there are two gas stations in a very small town then the gasoline industry is probably best characterised as

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ewomazinoade ewomazinoade

23-01-2021

Answer:

Oligopolistic

Explanation:

An Oligopoly is when there are few large firms operating in an industry.

When there are two firms in an industry, it is known as a duopoly

Oligopolies are characterised by:

price setting firms
product differentiation
profit maximisation
high barriers to entry or exit of firms
downward sloping demand curve

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