Which form of market structure is characterised by interdependence in decision-making as between the different competing firms?

A Oligopoly
B Perfect competition
C Imperfect competition
D None of the above

Correct Answer: Oligopoly

Oligopoly form of market structure is characterised by interdependence in decision-making as between the different competing firms. An oligopoly is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers. Oligopolies have their own market structure.
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