Which of the Following Is Correct

question 177

Multiple Choice

Which of the following is correct?

• A) In perfect competition, most firms in an industry are large.
• B) In monopolistic competition, there are fewer sellers than in perfect competition but still many buyers.
• C) All things considered, perfect competition is the ideal situation.
• D) In order for an oligopoly to exist, there must not be more than three sellers.
• E) In a monopoly, the firm that is the only supplier does not have to worry about how much consumer demand will fall as it raises its prices.

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