One Difference Between Oligopoly and Monopolistic Competition Is That

question 65

Multiple Choice

One difference between oligopoly and monopolistic competition is that

• A) in monopolistic competition, the products are identical.
• B) monopolistic competition has barriers to entry.
• C) fewer firms compete in oligopoly than in monopolistic competition.
• D) a monopolistically competitive industry has fewer firms.

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Definitions:

Genetic Coding Hypothesis

A theory suggesting that specific genes are responsible for determining particular traits or behaviors in organisms.

Primary Operating Principle

The foundational idea or rule that guides the functionality or behavior of a system or organization.

Seed-stage Company

A business that is at the initial phase of its operations, typically seeking early-stage funding to develop its product or service.

Anticipation

The act of expecting or predicting future events or needs.