One of the Differences Between Perfect Competition and Oligopoly Is

question 39

Multiple Choice

One of the differences between perfect competition and oligopoly is:

• A) that an oligopolist rarely earns economic profit, whereas a perfectly competitive firm will always earn economic profit.
• B) that perfectly competitive firms often engage in non-price competition, whereas oligopolists don't.
• C) that while a perfectly competitive firm earns zero economic profit in the long run, the oligopolist can earn positive economic profit in the long run.
• D) that a perfectly competitive firm will advertise while an oligopolist will not advertise.

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Definitions:

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A country in East Asia, located on the Korean Peninsula, known for its rich history and cultural heritage.

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A country in East Asia, the world's most populous nation, with a rich history that includes the development of one of the earliest civilizations.

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