The most important fact about an oligopolized industry is that

A) there are several very large firms.
B) there are a few firms.
C) the firms produce a differentiated product.
D) the firms produce an identical product.

Oligopolized Industry

An economic condition where a few firms dominate a market, often leading to limited competition and potential collaboration on pricing and output.

Differentiated Product

A product that differs from similar market offerings by brand, quality, features, or customer service, giving it a unique selling point.