Which of the Following Statements Is Correct

question 210

Multiple Choice

Which of the following statements is correct?

• A) Monopolistic competition is similar to monopoly because both market structures are characterized by patents.
• B) Monopolistic competition is similar to perfect competition because both market structures are characterized by each seller being small compared to the market.
• C) Monopolistic competition is similar to oligopoly because both market structures are characterized by free entry.
• D) Monopolistic competition is similar to perfect competition because both market structures are characterized by excess capacity.

---

Definitions:

Discussing a Bill

The act of debating, scrutinizing, or deliberating over a proposed law or legislation within a governing body before it is passed or rejected.

Collection Agency

An enterprise engaged in collecting payments from individuals or businesses for outstanding debts.

Negotiate

The process of discussing something to reach an agreement or compromise between parties, typically aiming for a beneficial outcome for all involved.

Telephone Directory

A book or electronic database listing individuals' and organizations' phone numbers, often sorted alphabetically.