The market situation in which only a few large firms compete in offering very similar marketing mixes to customers is called ________.
A) pure competition
B) Oligopoly
C) capitalistic competition
D) monopolistic competition
E) monopoly

Question

Quizplus · Accepted Answer

In oligopoly there are a few large firms competing, whereas in pure competition there are often many firms. In oligopoly and pure competition, competitors offer very similar marketing mixes, and customers see the alternatives as close substitutes.

The Market Situation in Which Only a Few Large Firms