Oligopoly Differs from Monopoly as Follows

question 118

Multiple Choice

Oligopoly differs from monopoly as follows:

• A) Oligopoly involves a few firms; monopoly involves a single firm.
• B) Oligopoly does use advertisement; monopoly does not use advertisement.
• C) Oligopoly involves free entry; monopoly involves no free entry.
• D) Oligopoly involves a few firms; monopoly involves a single firm and oligopoly involves free entry; monopoly involves no free entry.

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Definitions:

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Decoding

The process of interpreting or understanding communication messages, symbols, or encoded information.

Encoding

The process of converting information or ideas into a symbolic form that can be conveyed through communication.

Communication Medium

The channel or method used to convey information or messages from one entity to another, including digital, oral, written, and non-verbal forms.