Firms in industries that have competitors but,at the same time,do not face so much competition that they are price takers,are operating in either of which types of markets

Question

Quizplus · Accepted Answer

Firms operating in markets with competitors but not so many that they are price takers typically operate in monopolistically competitive or oligopoly markets. Monopolistically competitive markets have many firms selling differentiated products, while oligopoly markets have a few firms with differentiated or homogenous products. Therefore, the best choice is C, oligopoly or monopolistically competitive market.

Firms in Industries That Have Competitors But,at the Same Time,do