Question

_____ is a market structure that has few sellers who can influence the price. Products can be identical or differentiated, such as in the steel or car markets.

A) Perfect competition
B) Monopolistic competition
C) Oligopoly

Answer 1

The answer to your question is letter C.

Answer 2

Answer: Option 'C' is correct.

Explanation:

As we know that

Oligopoly is a market structure that few sellers who can sell identical or differentiated products.

It needs heavy investment as well as heavy selling cost is also incurred.

whereas, Perfect competition and monopolistic competition both having large number of buyers and sellers and In perfect competition, products are identical or homogeneous whereas in monopolistic competition, products are differentiated .

Hence, Option 'C' is correct.