ECO401 GDB # 2 Solution

ECO401 GDB # 2 Solution:
“A car manufacturer may regard his business as highly competitive because he is keenly aware of his rivalry with the other car manufacturers in the market when making pricing and investment decisions. Each car manufacturer undertakes dynamic advertising campaigns seeking to persuade prospective buyers of the superior quality and better style of his cars and reacts very quickly to claims of superiority by his rivals.”
Which type of market structure is this? Just mention the name of that market structure.
Answer:
To me its oligopoly, and i will support my answer with the following points:
First: The products are differentiatable as the compitition between firms is base on standard that is all the products are not same, they vary in their quality.
Second: Oligoplistic firms depends on teh action, reaction of other firms in the industry as in the case of given example is also same.
 Third: As the price is mentioned that the manufacturer of car in the given case is taking care of  other firms meaning that price is not one, that is not single equiblibrium. which is also a supporting hint for oligopoly,
Finally Fourth: It seems that there are no new entrants, so that,s why manufacturere just has to take
care of other existing firms which also seem limited.
HURRY UP GUYS
PLS VERIFIY SO THAT I CAN POST?