Tesco operates in which market structure?Question 3Answera.Monopolistic Competitionb.Monopolyc.Oligopolyd.Perfect Competitione.None
Question
Tesco operates in which market structure?Question 3Answera.Monopolistic Competitionb.Monopolyc.Oligopolyd.Perfect Competitione.None
Solution
Tesco operates in an Oligopoly market structure. This is because there are only a few firms that dominate this sector, including Tesco, Asda, Sainsbury's, and Morrisons in the UK. These companies have a high market concentration and can influence prices, indicating characteristics of an oligopoly.
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