One of the Differences Between Perfect Competition and Oligopoly Is

question 39

Multiple Choice

One of the differences between perfect competition and oligopoly is:

• A) that an oligopolist rarely earns economic profit, whereas a perfectly competitive firm will always earn economic profit.
• B) that perfectly competitive firms often engage in non-price competition, whereas oligopolists don't.
• C) that while a perfectly competitive firm earns zero economic profit in the long run, the oligopolist can earn positive economic profit in the long run.
• D) that a perfectly competitive firm will advertise while an oligopolist will not advertise.

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Definitions:

Aggression

A range of behaviors intended to harm or injure another living being who is motivated to avoid such treatment.

Neurotransmitters

Chemicals that transmit signals across a synapse from one neuron to another in the brain and nervous system.

Unconscious Forces

Psychological or emotional influences of which an individual is not fully aware but that can affect thoughts and behaviors.

Psychoanalytic Perspective

View of human development as shaped by unconscious forces that motivate human behavior.