A market in which a small number of strategically interdependent firms produce the dominant share of output is called
A)perfect competition
B)a monopoly
C)monopolistic competition
D)regulated
E)an oligopoly

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a small number of firms dominate the market and are interdependent in their decision making. This means that the actions of one firm can have an impact on the profits and strategies of the other firms in the market. This market structure is characterized by barriers to entry, limited competition, and strategic behavior by the firms involved.

A Market in Which a Small Number of Strategically Interdependent