Oligopoly is about the ____________ and monopolistic competition is about the ______________.
A) number of firms; variety of products
B) variety of products; barriers to entry
C) barriers to entry; number of firms
D) variety of products; number of firms
Correct Answer:
Verified
Q25: Just like a monopolist,a monopolistically competitive firm:
A)
Q26: These are the cost and revenue curves
Q27: Standardized products can appear:
A) only in perfectly
Q28: These are the cost and revenue curves
Q29: Offering goods that are similar to competitors'
Q31: Firms who effectively differentiate their product from
Q32: In the long-run,monopolistically competitive firms:
A) charge prices
Q33: These are the cost and revenue curves
Q34: In the short run,product differentiation enables firms
Q35: These are the cost and revenue curves
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