There Are Two Types of Markets in Which Firms Face

question 346

Multiple Choice

There are two types of markets in which firms face some competition yet are still able to have some control over the prices of their products. Those two types of market are

• A)monopolistic competition and oligopoly.
• B)duopoly and triopoly.
• C)perfect competition and monopolistic competition.
• D)duopoly and imperfect competition.

---

Definitions:

Status

The social or professional position of an individual or entity within a structured system or society.

Sociological Criticisms

Sociological criticisms refer to analyses or critiques grounded in sociological perspective, often focusing on societal structures, inequalities, behaviors, and practices.

Freud's Model

This refers to Sigmund Freud's theoretical framework for understanding the human psyche, consisting of the id, ego, and superego.

Id

In Freudian psychology, the component of personality that is responsible for our basic desires and drives.