If competitive market circumstances are such that there is some leader-follower price competition,some product differentiation,and the purpose of advertising is to inform,but avoid price competition,then _____ must exist in the industry.
A)a pure monopoly
B)an oligopoly
C)monopolistic competition
D)pure competition

Question

Quizplus · Accepted Answer

An oligopoly must exist in the industry because it is characterized by a few firms that dominate the market, leading to leader-follower dynamics, product differentiation, and strategic advertising to avoid price competition.

If Competitive Market Circumstances Are Such That There Is Some