Perfect competition provides one model in which there are many firms with no barriers to entry.If perfect competition as a model lies on one extreme,the model that lies on the opposite extreme is:
A)monopolistic competition.
B)oligopoly.
C)monopoly.
D)imperfect competition.
E)oligopolistic competition.

Question

Quizplus · Accepted Answer

Monopoly is the model that lies on the opposite extreme of perfect competition as it involves only one firm that has complete control over the market with no competition.

Perfect Competition Provides One Model in Which There Are Many