Under ________, the market consists of a few large sellers who are highly sensitive to each other's pricing and marketing strategies.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) pure monopsony

Question

Quizplus · Accepted Answer

In oligopolistic competition, there are only a few large sellers who have a significant market share. These sellers are interdependent and thus closely monitor each other's prices and marketing strategies. This leads to intense rivalry and competition between them, making it difficult for new firms to enter the market.

Under ________, the Market Consists of a Few Large Sellers