A market is ________ when a small number of firms compete.
A) a monopoly
B) perfectly competitive
C) monopolistically competitive
D) an oligopoly
E) either monopolistically competitive or an oligopoly

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which there are only a few large firms competing. This can lead to limited competition and strategic behavior, such as price collusion or non-price competition, among the firms in the market.

A Market Is ________ When a Small Number of Firms