In a Dominant Firm Market

Multiple Choice

In a dominant firm market,:

A) one firm possesses a large share of the market but competes against numerous small firms, each offering identical products.
B) one firm possesses a large share of the market but competes against a small number of other firms, each offering differentiated products.
C) a small number of firms possess a large share of the market but compete against numerous small firms, each offering a differentiated product.
D) a small number of firms possess a large share of the market but compete against numerous small firms, each offering an identical product.