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:

Comparative Advertisements

Advertising strategy where a brand compares its product directly to a competitor's product, highlighting advantages in order to influence consumer preference.

Consumer Attention

The focus or concentration that consumers give to marketing messages, products, or brands.

Comparative

Involving the assessment or measurement of similarities and differences between two or more items, often used in research and analysis.

Competitive Rates

Pricing that is designed to be competitive with the market or industry standard, often to attract customers or business.