Toyota managers rarely take this step, knowing that price cuts are unlikely to give them an advantage in an oligopoly.
Thus, the correct option is B.
When a small number of significant sellers or producers dominate a major piece of a market or an entire sector, the situation is known as an oligopoly.
The desire to maximize profits frequently gives rise to oligopolies, which can lead to corporate cooperation.
Less competition, higher consumer pricing, and lower employee compensation are the results.
Numerous industries have been identified as being oligopolistic, including civil aviation, energy providers, the telecommunications sector, rail markets, food processing, funeral services, sugar refining, beer production, pulp and paper manufacturing, and auto manufacturing.
Most countries have laws that forbid taking anti-competitive action.
EU competition law forbids the use of anti-competitive strategies such price-fixing, influencing market supply, and interfering with rival trade real-world, direct interaction between business.
Learn more about oligopoly, here
https://brainly.com/question/14093864
#SPJ4
