Ask Question
BusinessBusiness
26 April, 05:22

An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making-price output decisions, is called a. monopolistic competitionb. oligopolyc. pure monopolyd. pure competition

+2
Answers (1)
  1. 26 April, 06:45
    0
    The correct answer is option b.

    Explanation:

    Oligopoly is the form of market where there are few firms which are interdependent on each other. The price and output decisions of a firm affect its competitor firms in the market who are likely to react accordingly.

    That's why an oligopoly firm takes into account the reaction of its rival in making price-output decisions.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making-price output ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is a limitation of the direct write-off method of accounting for uncollectibles? a) The direct write-off method overstates assets on the balance sheet.
Answers (1)
Sanje works for the GoldCoast Skateboard company headquartered in California. The company wants to offer its skateboards in countries like India and Thailand, and Sanje needs to identify which demographic would be most receptive to the company's
Answers (1)
The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320); imports ($35); exports ($22); personal consumption expenditures ($2,460); and, government purchases ($470).
Answers (1)
The following data is available for Wheels 'N Spokes Repair Shop for 2016: Repair technicians' wages $360,000 Fringe benefits 80,000 Overhead 60,000 Total $500,000 The desired profit margin is $40 per labor hour.
Answers (1)
Carol takes out an insurance policy on her car. Carol can assign her policy to a third party
Answers (1)
New Questions in Business
Joel operates his business, carson collectibles, by himself. he has made no election with his state regarding his business. what is the most likely form of joel's business?
Answers (1)
Sheridan Company received $135000 in cash and a used computer with a fair value of $318000 from Carla Vista Co. for Sheridan Company's existing computer having a fair value of $453000 and an undepreciated cost of $420300 recorded on its books.
Answers (1)
A profit-maximizing firm in a monopolistically competitive market differs from a firm in a perfectly competitive market because the firm in the monopolistically competitive market a. sells its product in a highly-concentrated market. b.
Answers (1)
At the end of the accounting period, Isaac Company had a balance of $4,000 in its common stock account, additional paid in capital of $4,000, retained earnings of $3,000, and $1,000 of treasury stock. The total amount of stockholders' equity is:a.
Answers (1)
If the findings and the results are not presented properly, the research completed was a waste of time and money. True False
Answers (1)
Home » Business » An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making-price output decisions, is called a. monopolistic competitionb. oligopolyc. pure monopolyd. pure competition
Sign Up Forgot Password?