In a market that is characterized by imperfect competition,
A)firms are price takers.
B)there are always a large number of firms.
C)there are at least a few firms that compete with one another.
D)the actions of one firm in the market never have any impact on the other firms' profits.

Question

Quizplus · Accepted Answer

In a market characterized by imperfect competition, there are usually a few firms that compete with one another, unlike in perfect competition where there are many firms, all of which are price takers and none of which can influence market prices or conditions significantly.

In a Market That Is Characterized by Imperfect Competition