What Is a Difference Between Oligopoly and Monopolistic Competition

question 52

Multiple Choice

What is a difference between oligopoly and monopolistic competition?

• A) Oligopolists consider the actions and reactions of their competitors.
• B) Oligopolists only compete with monopolists.
• C) Monopolistic competitors act like monopolies and oligopolists don't.
• D) Monopolistic competitors can make long-run profits.

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Definitions:

Task-Oriented

A focus on performing tasks and achieving specific outcomes, often emphasizing productivity and efficiency.

Self-Management

Involves controlling one’s behavior, emotions, and thoughts in the pursuit of long-term goals.

Maintenance-Related

Pertaining to tasks, activities, or actions aimed at keeping things in a state of functioning or efficiency.

Maintenance-Related

Pertaining to activities, tasks, or strategies focused on preserving or restoring the condition of something.