One Difference Between Oligopoly and Monopolistic Competition Is

question 91

Multiple Choice

One difference between oligopoly and monopolistic competition is

• A)there is a smaller number of firms in a monopolistically competitive market than in an oligopoly.
• B)in oligopolies firms make slightly different products whereas in monopolistic competition the products are identical.
• C)monopolistic competition has barriers to entry, whereas oligopoly has none.
• D)fewer firms compete in an oligopoly than in a monopolistically competitive market.
• E)in oligopolies, firms are typically smaller in size.

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Definitions:

Coniferous Forest

A biome characterized by trees with needles or scale-like leaves, including many species that bear cones.

Polar Ice

Frozen water found in the polar regions of Earth, including both sea ice and land-based ice sheets that play a crucial role in the global climate system.

Tundra

A biome characterized by cold temperatures, low biodiversity, short vegetation, and a layer of permanently frozen soil beneath the surface layer.

Broadleaf Deciduous

Trees and shrubs that have wide, flat leaves and lose all their leaves for part of the year as a strategy to survive varying weather conditions.