Which of the Following Statements Accurately Brings Out the Difference

question 90

Multiple Choice

Which of the following statements accurately brings out the difference between monopolistic competition and an oligopoly?

• A) Sellers in an oligopoly provide highly differentiated products; in monopolistic competition, the products sold are undifferentiated or standardized.
• B) In an oligopoly, the number of buyers is large; in monopolistic competition, the number of buyers is limited to three or four.
• C) Firms in an oligopoly have no pricing power; firms in a monopolistically competitive industry have the ability to raise prices.
• D) In monopolistic competition, many firms compete against each other; in an oligopoly, there are few large firms competing against each other.

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Definitions:

Poor Skin Color

Poor skin color is a medical symptom indicating potential issues such as inadequate blood flow, oxygenation problems, or systemic health conditions.

Foul Body Odor

Unpleasant smell emanating from the body, often due to bacteria on the skin breaking down sweat into acidic compounds.

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A condition characterized by the hardening and narrowing of the arteries due to the buildup of plaque, which can lead to reduced blood flow and increased risk of cardiovascular diseases.

Fatty Deposits

Accumulation of fat within the body, often in specific areas such as arteries or liver.