Multiple Choice
A characteristic common in both oligopoly and monopolistic competition is
A) a small number of firms compete in the market.
B) natural or legal barriers prevent the entry of new firms into the market.
C) each firm faces a downward-sloping demand curve.
D) the firms in the market are interdependent.
E) each firm has a large share of the market.
Correct Answer:
Verified
Correct Answer:
Verified
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