A product- market that consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies is known as:
A) monopolistic competition.
B) pure competition.
C) oligopolistic competition.
D) free market.
E) monopoly.

Question

Quizplus · Accepted Answer

An oligopolistic competition is a market structure where a few firms dominate the market and are highly sensitive to each other's pricing and marketing strategies. The firms in this market structure have some control over the price and their actions can affect the market as a whole. Therefore, an oligopolistic competition is the best choice for this situation.

A Product- Market That Consists of a Few Sellers Who