Asked by
Damuelm Morales Barreto
on Nov 05, 2024
Verified
The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is
A) perfect competition.
B) monopoly.
C) monopolistic competition.
D) oligopoly.
Oligopoly
A market structure characterized by a few companies controlling the majority of market share, which can lead to limited competition.
Perfect Competition
A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit, leading to an efficient allocation of resources.
Monopoly
A market structure characterized by a single seller controlling a large portion of the market, facing little to no competition.
- Pinpoint the particular qualities of an oligopoly, encompassing the interconnectedness between enterprises and their potential to shape market prices.
Verified Answer
LA
Learning Objectives
- Pinpoint the particular qualities of an oligopoly, encompassing the interconnectedness between enterprises and their potential to shape market prices.