​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:

Labor Taxes

Taxes imposed on the wages and salaries of employees.

Consumer Surplus

The deviation between the overall amount consumers are keen and able to pay for a good or service against the sum actually paid.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, measuring producers' benefit.

Tax

A mandatory monetary fee or different kind of charge levied on a taxpayer by a government entity to support government expenditures and various public costs.