Which of the following market types has only a few competing firms?
A) perfect competition
B) monopolistic competition
C) oligopoly
D) monopoly
E) perfect competition and monopolistic competition

Question

Quizplus · Accepted Answer

Oligopoly is a market type that has only a few competing firms. Perfect competition has numerous small firms, monopolistic competition has many firms but they sell differentiated products, and monopoly has only one firm with no close substitutes. Therefore, the correct answer is C.

Which of the Following Market Types Has Only a Few