The interactive exchange between firms and their customers creates the competitive environment.There are multiple types of competitive environments,and each has its own characteristics.Your company operates in a competitive environment where there are only a limited number of competitors.Moreover,it is hard for new competitors to enter the industry because of the high startup costs involved. Which one of the following competitive environments best describes the industry your company is in?

Question

​The interactive exchange between firms and their customers creates the competitive environment.There are multiple types of competitive environments,and each has its own characteristics.Your company operates in a competitive environment where there are only a limited number of competitors.Moreover,it is hard for new competitors to enter the industry because of the high startup costs involved. Which one of the following competitive environments best describes the industry your company is in?

Quizplus · Accepted Answer

The limited number of competitors and high startup costs suggest an industry with oligopoly characteristics. In an oligopoly, a small number of firms dominate the market, creating barriers to entry for potential new competitors.

​The Interactive Exchange Between Firms and Their Customers Creates the Competitive

The Interactive Exchange Between Firms and Their Customers Creates the Competitive