How does the market power of an oligopoly affect its pricing strategy compared to perfect competition?

• A. Oligopolies have no market power and must accept market prices.
• B. Oligopolies have complete market power, similar to monopolies.
• C. Oligopolies set prices based solely on production costs.
• D. Oligopolies have some market power, allowing them to influence prices, unlike perfect competition.

Answer: (D)