The competitive market situation in which the few sellers are sensitive to each other's prices is referred to as
A) pure monopoly.
B) oligopoly.
C) monopolistic competition.
D) pure competition.
E) oligopolistic competition.

Question

Quizplus · Accepted Answer

Oligopoly is a market structure in which a few sellers dominate the market and are sensitive to each other's prices.

The Competitive Market Situation in Which the Few Sellers Are