Answered

Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Which type of market exists when there are so many buyers and sellers that each has only a small impact on the market price and output?

A. an imperfect market
B. a competitive market
C. a supermarket
D. a monopoly

Sagot :

GinnyAnswer

Final answer:

Monopolistic competition and oligopoly are types of imperfectly competitive markets where firms have a small impact on prices. These markets involve differentiated products and a small number of dominating firms.


Explanation:

Monopolistic competition is the type of market that exists when there are many buyers and sellers, each having a small impact on the market price and output. In this market structure, firms sell differentiated products and compete against each other, such as the example of various clothing stores in a shopping mall.

Oligopoly is another type of imperfectly competitive market where a small number of firms dominate the industry. Examples include Boeing and Airbus in the commercial aircraft industry or Coca-Cola and Pepsi in the soft drink industry.

Imperfectly competitive markets like monopolistic competition and oligopoly have characteristics that set them apart from perfect competition and monopoly, impacting pricing strategies and market dynamics.


Learn more about Imperfectly competitive markets here:

https://brainly.com/question/15170198


Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.