The right response is a. an oligopoly, b. this industry will probably make a profit, and c. Economic profits are expected to decrease if international businesses start supplying the goods, increasing the number of competitors.
In oligopoly markets, a limited number of suppliers control the market. They are present in every nation and a wide variety of industries. While some oligopoly markets are much more competitive than others, others can at least appear to be so. An oligopoly can prevent new competitors from entering the market, stifle innovation, and raise prices, all of which are detrimental to consumers. Instead than collecting prices from the market, companies in an oligopoly determine pricing, whether collectively—in a cartel—or under the direction of one enterprise.
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