Which of the Following Statements Accurately Brings Out the Difference

Multiple Choice

Which of the following statements accurately brings out the difference between monopolistic competition and an oligopoly?

A) Sellers in an oligopoly provide highly differentiated products; in monopolistic competition, the products sold are undifferentiated or standardized.
B) In an oligopoly, the number of buyers is large; in monopolistic competition, the number of buyers is limited to three or four.
C) Firms in an oligopoly have no pricing power; firms in a monopolistically competitive industry have the ability to raise prices.
D) In monopolistic competition, many firms compete against each other; in an oligopoly, there are few large firms competing against each other.