To understand most of today's economic activity in the U.S.economy, we should look at which of the following models?
A)perfect competition and pure monopoly
B)perfect competition and oligopoly
C)oligopoly and monopolistic competition
D)monopolistic competition and monopoly

Question

To understand most of today's economic activity in the U.S.economy, we should look at which of the following models?
A)perfect competition and pure monopoly 
B)perfect competition and oligopoly 
C)oligopoly and monopolistic competition 
D)monopolistic competition and monopoly

Quizplus · Accepted Answer

Today's U.S. economy is dominated by a few large firms in different industries, making oligopoly and monopolistic competition the most relevant models to understand the economy. While perfect competition and pure monopoly are relevant in certain industries, they are not representative of the overall economic landscape.

To Understand Most of Today's Economic Activity in the U