According to the text, most real world market structures are mainly
A) monopoly and perfect competition
B) monopoly and oligopoly
C) perfect competition and oligopoly
D) oligopoly and monopolistic competition
E) perfect competition and monopolistic competition

Question

Quizplus · Accepted Answer

Most real-world market structures do not fit perfectly into the categories of perfect competition or pure monopoly. Instead, they often exhibit characteristics of oligopolies (where a few firms dominate) and monopolistic competition (where many firms compete on product differentiation), making these two the most common market structures observed in practice.

According to the Text, Most Real World Market Structures Are