The U.S. Securities and Exchange Commission has designated just nine credit-rating agencies as "nationally recognized statistical rating organizations" (NRSROs), which include Moody's, Standard & Poor's, and Fitch Ratings. These agencies provide opinions on the creditworthiness of other entities and the financial obligations issued by them. Because so few companies can compete in it, the credit-rating industry would be considered a(n)
A. monopolistic competition.
B. monopoly.
C. mega monopoly.
D. pure competition.
E. oligopoly.
Answer: E
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