Answered: A market in which there are only a few…

A market in which there are only a few firms and each is able to influence the market price is termed: a. Perfect competition b. Monopolistic competition Oligopoly d. Monopoly

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A market in which there are only a few firm and each is able to influence the market price is termed?

A market in which there are only a few firms and each is able to influence the market price is
termed:
a. Perfect competition
b. Monopolistic competition
Oligopoly
d. Monopoly

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