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 pure competition. pure monopoly. oligopoly. monopolistic competition.

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Social Studies

Genevieve Combs

16 June, 20:28

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 pure competition. pure monopoly. oligopoly. monopolistic competition.

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Miah Hurley · Answer 1

The correct answer for this question is this one: "A. monopolistic competition." 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 monopolistic competition.