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The American automobile industry followed the pattern of many other oligopolies. Approximately three decades ago the automobile industry had a concentration ratio of 100. All automobiles were made here in America. But since then there have been two major changes. The first was set off by the gasoline shortages we had in the 1970s. The higher gas prices that followed made fuel-efficient cars-particularly Japanese cars-much more attractive to the American buyer. Imports, which had been limited to just 10% of the market, shot up to about 30% by the mid 1980s. With about the same significance to the industry has been the beginning of the Japanese transplants, which began setting up assembly lines during the 1980s. Today these firms assemble half the motor vehicles produced in the US.
What else can I help you with?
What would economists describe the US automobile industry as?
an oligopoly
What is the market structure of the steel automobile industry?
That would be an oligopoly.
Is the automobile industry considered an oligopoly?
Yes, the automobile industry is considered an oligopoly because a small number of large companies dominate the market and have significant control over pricing and competition.
In the United States which industry could best be defined as an oligopoly?
Automobile manufacturing.
Why is the automobile industry considered an oligopoly?
The automobile industry is considered an oligopoly because it is dominated by a small number of large companies that have significant control over the market. These companies have the power to influence prices and competition, making it difficult for new entrants to enter the market.
What would economists describe the US automobile industry as?
an oligopoly
What is the market structure of the steel automobile industry?
That would be an oligopoly.
Is the automobile industry considered an oligopoly?
Yes, the automobile industry is considered an oligopoly because a small number of large companies dominate the market and have significant control over pricing and competition.
In the United States which industry could best be defined as an oligopoly?
Automobile manufacturing.
Why is the automobile industry considered an oligopoly?
The automobile industry is considered an oligopoly because it is dominated by a small number of large companies that have significant control over the market. These companies have the power to influence prices and competition, making it difficult for new entrants to enter the market.
What factors contribute to the dominance of a few major players in the automobile industry oligopoly?
Several factors contribute to the dominance of a few major players in the automobile industry oligopoly. These include economies of scale, high barriers to entry, brand loyalty, technological advancements, and strategic alliances. Additionally, government regulations and market demand also play a role in shaping the competitive landscape of the industry.
Is airline industry a oligopoly or monopolistic?
Oligopolistic
What is market structure in the media industry?
Oligopoly :)
Which is the market structure of the media industry?
Market structure of the media industry: Oligopoly
Is the diamond industry an oligopoly or monopolistic cometition?
The diamond industry is an oligopoly, or an industry dominated by a small number of large businesses.
Which industry was an oligopoly in the US?
Steel industry
In which midwestern city will you find the headquarters of the American automobile industry?
Detroit
