How Does an Oligopolist Differ from a Perfect Competitor

question 112

Multiple Choice

How does an oligopolist differ from a perfect competitor?

• A)There is cutthroat competition in perfect competition but little competition in oligopoly because firms have significant market power.
• B)Firms in an oligopoly do not produce homogeneous products while firms in perfect competition do.
• C)The market demand curve for a perfectly competitive industry is perfectly elastic but it is downward sloping in an oligopolistic industry.
• D)There are no entry barriers in perfect competition but there are entry barriers in oligopoly.

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