An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions, is called pure competition. pure monopoly. oligopoly. monopolistic competition.

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Aimee Hogan

Social Studies

24 January, 10:37

An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions, is called pure competition. pure monopoly. oligopoly. monopolistic competition.

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Monica Hayes · Answer 1

The correct answer for this question is this one: "A. monopolistic competition." An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions, is called monopolistic competition.