One difference between oligopoly and monopolistic competition is that
A) in monopolistic competition, the products are identical.
B) monopolistic competition has barriers to entry.
C) fewer firms compete in oligopoly than in monopolistic competition.
D) a monopolistically competitive industry has fewer firms.

Question

Quizplus · Accepted Answer

In an oligopoly, a few large firms dominate the market, which contrasts with monopolistic competition, where many firms compete and each offers a differentiated product.

One Difference Between Oligopoly and Monopolistic Competition Is That