​As Input for a Presentation That You Are Jointly Authoring

question 129

Multiple Choice

​As input for a presentation that you are jointly authoring, one of your marketing analysts submitted the following summary of the characteristics of the four different types of market structures companies compete in: ​
Competitive Structure
Number of Competitors
Market Barriers to Entry
Monopolistic Competition
Unlimited
No Barriers
Monopoly
Few
Some Barriers
Pure Competition
Many
Few Barriers
Oligopoly
One
Many Barriers
​
With respect to the classifications of number of competitors and barriers to entry, which one of the following statements is correct?
​

• A)The monopolistic competition structure is properly classified.
• B)The monopoly and oligopoly structures' classifications should be reversed.
• C)The monopoly structure is properly classified.
• D)The oligopoly structure is properly classified.
• E)The pure competition and oligopoly structures are properly classified.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded at those prices, typically downward sloping.

High Cholesterol

A condition characterized by elevated levels of cholesterol in the blood, which can increase the risk of heart disease.

Demand Shift

A change in the quantity of a product or service that consumers are willing and able to buy, due to factors such as price, consumer preferences, or income changes.

Equilibrium Price

the price at which the quantity of goods supplied equals the quantity of goods demanded, reaching a state of market balance.