Answered

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This situation best illustrates which market condition?

A. Monopolistic competition
B. Oligopoly
C. Pure competition
D. Monopoly

Sagot :

GinnyAnswer

Final answer:

The scenario illustrates the market condition of oligopoly with limited direct competition among a small number of companies.


Explanation:

Oligopoly is the market condition illustrated in the scenario provided, where a small number of companies operate with little direct competition. In contrast to monopolistic competition with many firms selling similar but not identical products, or pure competition with many firms selling identical products, oligopoly involves few firms that sell identical or similar products.


Learn more about Market Structures here:

https://brainly.com/question/30280211


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