In what type of market do the actions of any one seller have a significant impact on the profits of all other sellers?
A)a monopoly
B)an oligopoly
C)perfect competition
D)monopolistic competition

Question

Quizplus · Accepted Answer

In an oligopoly market, there are only a few large firms that dominate the market, and the actions of any one seller can have a significant impact on the profits of all other sellers. This is because in an oligopoly, each firm has a significant market share, so changes in pricing or production levels by one firm can affect the market as a whole. In a monopoly, there is only one seller, so the actions of that seller do not directly impact the profits of other sellers. In perfect competition, there are many small firms that do not have a significant impact on each other's profits. Monopolistic competition is similar to perfect competition, except that firms differentiate their products, so the impact of any one seller's actions may be somewhat limited.

In What Type of Market Do the Actions of Any