One Way in Which Monopolistic Competition Differs from Oligopoly Is

question 108

Multiple Choice

One way in which monopolistic competition differs from oligopoly is that

• A)there are no barriers to entry in oligopolies.
• B)in oligopoly markets there are only a few sellers.
• C)all firms in an oligopoly eventually earn zero economic profits.
• D)strategic interactions between firms are rare in oligopolies.

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Definitions:

Commodity 1

A basic good used in commerce that is interchangeable with other goods of the same type.

M.B.A.s

Master of Business Administration; a graduate degree focusing on business administration and investment management.

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating resources to satisfy their wants and needs.

Sociology

The study of the development, structure, and functioning of human society, including the analysis of social relationships and institutions.