One Factor That Distinguishes a Monopoly from Monopolistic Competition Is

question 130

Multiple Choice

One factor that distinguishes a monopoly from monopolistic competition is that

• A)firms in monopolistic competition practice collusion.
• B)no barriers to entry exist in a monopoly.
• C)barriers to exit exist in monopolistic competition.
• D)close substitutes are available in monopolistic competition.
• E)firms are price-takers in monopolistic competition.

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Definitions:

Departmentalization

The method of segmenting an organization into various departments, each responsible for distinct tasks or functions.

Functional Structure

A form of organization where the company is divided into departments each handling activities related to a particular function such as marketing, production, or human resources.

Divisional Structure

An organizational framework where operations are divided into semi-autonomous divisions, each responsible for its own product lines, operations, and resources.

Specific Skills

Specialized abilities and knowledge that are acquired through training or experience and are necessary for a particular job or activity.