In a market with oligopoly characteristics, changing prices to attract customers is the most difficult among the options listed. In an oligopoly, firms are interdependent; price changes by one firm tend to provoke reactions (price matching, undercutting, or non-price responses) from rivals, making unilateral price changes risky and less effective at attracting customers.
Direct answer:
- oligopoly market
Brief reasoning:
- Oligopolies feature interdependent firms that often coordinate implicitly or explicitly, leading to price stability or cautious pricing strategies to avoid initiating price wars.
- In contrast, monopolies face no competition and can adjust prices more freely, purely competitive markets determine prices by supply and demand, and monopolistically competitive markets allow differentiation and relatively easier price adjustments, though with less certainty about demand effects.