If a market has more than one seller,but fewer sellers than under perfect competition,it is referred to as

Question

Quizplus · Accepted Answer

Imperfect competition is defined as a market structure that has more than one seller, but fewer sellers than under perfect competition, which makes it the correct choice. Option A is incorrect because a monopoly has only one seller in the market. Option B is incorrect as competitive markets have a large number of sellers. Option D and E are also incorrect as they do not relate to the given definition.

If a Market Has More Than One Seller,but Fewer Sellers