Pricing and Output decisions of sellers are highly inter-dependent in markets known as _________
The correct answer is B. Oligopoly
Pricing and Output decisions of sellers are highly interdependent in markets known as Oligopolies.
In an oligopoly, a few firms dominate the market and are aware of each other’s actions.
They understand that their own pricing and output decisions will affect the decisions of others, leading to a high degree of interdependence
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