In _____, if one company lowers prices, then typically, all of the other companies will also have to lower prices.
A) a pure monopoly market
B) a monopolistic competition market
C) oligopolistic competition and pure competition markets
D) all of the above

Question

Quizplus · Accepted Answer

In oligopolistic competition and pure competition markets, if one company lowers prices, then typically, all of the other companies will also have to lower prices because demand tends to be elastic.

In _____, If One Company Lowers Prices, Then Typically, All