Which of the following statements is true regarding oligopolistic competition
A. The market is dominated by one seller.
B. The market consists of many buyers and sellers trading over a range of prices.
C. Each seller is alert and responsive to competitors' pricing strategies and marketing moves
D. The market consists of many large sellers.
E. Many buyers and sellers trade a uniform commodity.
Answer: C. Each seller is alert and responsive to competitors' pricing strategies and marketing moves