One Way in Which Monopolistic Competition Differs from Oligopoly Is

question 108

Multiple Choice

One way in which monopolistic competition differs from oligopoly is that

• A)there are no barriers to entry in oligopolies.
• B)in oligopoly markets there are only a few sellers.
• C)all firms in an oligopoly eventually earn zero economic profits.
• D)strategic interactions between firms are rare in oligopolies.

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Definitions:

Energy Production

The biological processes by which cells convert nutrients into usable energy, primarily through respiration and metabolism.

Oxygen

A chemical element with symbol O, essential for aerobic respiration in living organisms and a key component of the Earth's atmosphere.

Vitamin

One of a group of organic substances present in minute amounts in natural foodstuffs that are essential to normal metabolism; insufficient amounts in the diet may cause deficiency diseases.

Catabolism

The breakdown of complex molecules in living organisms to form simpler ones, together with the release of energy; destructive metabolism.