Oligopoly Is Similar to

question 48

Multiple Choice

Oligopoly is similar to

• A)perfect competition because both market types produce identical goods.
• B)perfect competition because both firms in both market types make zero economic profit in the long run.
• C)monopoly because both market types have barriers to entry.
• D)monopoly because both market types have a single firm.
• E)monopolistic competition because firms in both markets face a perfectly elastic demand.

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Definitions:

Need Satisfaction

the fulfillment of basic or complex desires or requirements essential for mental and physical well-being.

Verbal Persuasion

The technique of using spoken words to influence or convince others to adopt a particular viewpoint or take a specific action.

Motivation

The reasons or incentives that drive an individual to act in a particular way or pursue specific goals.

Self-Efficacy

An individual's belief in their capability to execute behaviors necessary to produce specific performance attainments.