Figure 9-I

-Monopoly is at the other end of the spectrum from ____.
A)monopolistic competition
B)perfect competition
C)oligopoly
D)none of the above

Question

Figure 9-I
 
-Monopoly is at the other end of the spectrum from ____.
A)monopolistic competition 
B)perfect competition 
C)oligopoly 
D)none of the above

Quizplus · Accepted Answer

Monopoly is the opposite of perfect competition, where there are many small firms competing against each other with no one having significant market power. In a monopoly, there is only one firm with complete control over the market, which is the opposite of perfect competition.

Figure 9-I -Monopoly Is at the Other End of the Spectrum from of the Spectrum