Under which one of the following market structures are sellers most likely to consider the reaction of rival sellers when they set the price of their product?
A) Perfectly competition.
B) Monopoly.
C) Monopolistic competition.
D) Oligopoly.

Question

Quizplus · Accepted Answer

In oligopoly, there are only a few large firms in the market, and each firm's pricing decision has a significant impact on the market. Therefore, sellers in an oligopoly are more likely to consider the reaction of rival sellers when setting the price of their product.

Under Which One of the Following Market Structures Are Sellers