“A car manufacturer may regard his business as highlycompetitive because he is k

Question

“A car manufacturer may regard his business as highlycompetitive because he is keenly aware of his rivalry with theother car manufacturers in the market when making pricing andinvestment decisions. Each car manufacturer undertakes dynamicadvertising campaigns seeking to persuade prospective buyers of thesuperior quality and better style of his cars and reacts veryquickly to claims of superiority by his rivals.”

Which type of market structure is this? Just mention the name ofthat market structure.

Explanation / Answer

Oligopoly

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