The type of industry organization that is characterized by recognized interdependence and nonprice competition among firms is called
A) monopoly.
B) perfect competition.
C) oligopoly.
D) monopolistic competition.

Question

Quizplus · Accepted Answer

Oligopoly is characterized by a few firms that are interdependent and often engage in nonprice competition, such as advertising and product differentiation, because they recognize that their decisions will affect and be affected by the decisions of their few competitors.

The Type of Industry Organization That Is Characterized by Recognized