An Important Defence of Oligopoly as a Market Structure Is

question 24

Multiple Choice

An important defence of oligopoly as a market structure is that

• A) it is the most efficient available alternative when the minimum efficient scale is large.
• B) it involves less allocative inefficiency than monopoly.
• C) it is more productively efficient than monopoly.
• D) it results in lower prices than perfect competition.
• E) it generates less unused capacity than monopolistic competition.

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Definitions:

Vocal Cords

Bands of muscle tissue located in the larynx that vibrate to produce sound when air is expelled from the lungs, enabling speech and singing.

Epithelium

A membranous tissue covering internal organs and other internal surfaces of the body, involved in protection, secretion, and absorption.

Bronchus

Airway connecting the trachea to a lung.

Alveoli

Small pulmonary vesicles where oxygen and carbon dioxide are exchanged in the respiratory process.