In an Oligopoly industry a change in price by one firm will impact the other firms in the industry.

The answer is significantly.

Explanation:

Oligopoly is a market situation in which there are few sellers, selling similar goods and services and many buyers. The barriers to entry in this market in high. Example of a oligopoly market is OPEC.

The competition amongst the few sellers is high because they are selling the same thing and a change in price by one firm will significantly affect other firms in the industry. For example, if a firm reduces the price of its goods, this creates a price war and other firms to start reducing their price to match the lower price. And if another firm increases its price, consumers will switch to competitors

answer; depth;