One Way in Which Oligopoly Differs from Monopolistic Competition Is

question 29

Multiple Choice

One way in which oligopoly differs from monopolistic competition is that an oligopoly operates in an industry that

• A)makes no profits.
• B)incurs losses.
• C)has fewer sellers.
• D)has more sellers.
• E)incurs higher costs.

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Definitions:

Cornea

The clear, dome-shaped front surface of the eye that helps to focus light onto the retina.

Window

An opening in the wall of a building, vehicle, or container, typically covered with glass, that allows light and air to enter and people to see out; metaphorically, an opportunity or period of time.

Retina

The light-sensitive layer of tissue at the back of the inner eye, which transmits visual information to the brain via the optic nerve.

Fovea

A tiny pit located in the macula of the retina, providing the clearest vision of fine details when looking directly at an object.