If competitive market circumstances are such that there is some leader-follower price competition, some product differentiation, and the purpose of advertising is to inform, but avoid price competition, then___________ must exist in the industry.
A)an oligopoly
B)pure competition
C)a pure monopoly
D)monopolistic competition

Question

Quizplus · Accepted Answer

In an oligopoly, a few firms dominate the market, leading to leader-follower dynamics, product differentiation, and strategic advertising to inform consumers while avoiding price competition.

If Competitive Market Circumstances Are Such That There Is Some