The scenario best describes an oligopolistic industry as Coca-Cola and Pepsi sell most of the soft drinks consumed around the world. Thus the correct option is B.
Small numbers of suppliers control markets in an oligopoly. These markets are regarded as the opposition to other sectors or emerging industries. They stand particularly strongly behind their products and services in the marketplace.
The majority of soft drinks consumed on a regular basis around the world are sold by Coca-Cola and Pepsi, who fiercely compete in this oligopolistic market.
Therefore, option B is appropriate.
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