Only two large corporations sell cars in a country. Though they sometimes compete for customers, the corporations have agreed never to lower their
prices below a certain level. They also operate in different parts of the
country so that few consumers have a real choice between the companies.
As a result, the companies have little direct competition.
This situation best illustrates which market condition?
A. Pure competition
B. Monopoly
C. Monopolistic competition
D. Oligopoly