Which of the following is unique to oligopoly among all the market structures?
A)product differentiation
B)profit maximization
C)mutual interdependence
D)advertising
E)long-run economic profits

Question

Quizplus · Accepted Answer

Mutual interdependence refers to the fact that firms in an oligopoly must take into account the actions and reactions of their competitors when making pricing or output decisions. This is unique to oligopoly because in other market structures, such as perfect competition or monopoly, there is either no competition or a large number of competitors that do not have a significant impact on the decisions of one individual firm.

Which of the Following Is Unique to Oligopoly Among All