The Figure Given Below Shows the Revenue and Cost Curves

question 113

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-The oligopoly market structure model is characterized by:

• A)many firms in an industry producing differentiated products.
• B)many firms in an industry producing identical products.
• C)few firms in an industry with natural barriers to entry.
• D)a single firm in an industry with barriers to entry.
• E)many firms in an industry with barriers to entry.

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