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Economics

Firm A is concerned about the reactions of buyers to the price it sets for its product. Firm B is concerned about the reactions of buyers and its few rivals to the price it sets for its product. Firm C has no control over the price at which its product is sold. Which of the following best describes Firms A, B, and C respectively?

A) a monopolistic competitor, an oligopolist, and a pure competitor.

B) an oligopolist, a monopolistic competitor, and a pure competitor.

C) a monopolistic competitor, a pure competitor, and an oligopolist.

D) a pure competitor, an oligopolist, and a monopolistic competitor.

E) None of the above is correct.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91926747

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