In a Large Metropolitan Market, It Is Relatively Easy to Set

Multiple Choice

In a large metropolitan market, it is relatively easy to set up a law office.The ease of entry explains why you will find hundreds of lawyers listed in the New York City phone book.Each lawyer is a close substitute for another but with slight differences.Which of the following market structures best describes the one in which lawyers operate?

A) pure competition
B) perfect monopoly
C) monopolistic competition
D) oligopoly
E) none of the above