What distinguishes oligopoly from monopolistic competition? A) an oligopolist charges a price greater than marginal revenue...
What distinguishes oligopoly from monopolistic competition?
A) an oligopolist charges a price greater than marginal revenue at the profit maximizing output whereas a monopolistic competitor does not.
B) an oligopoly can be contestable whereas monopolistic competition is not.
C) Ano oligopolist explicitly takes into account competitors reactions to its output and pricing decisions whereas a monopolistic competitor doe not.
D) An oligopolist faces barriers to entry, whereas a monopolistic competitor does not.
Homework Answers
both monopolistic and oligopoly have the liberty to charge price greater than that of the marginal revenue because of their product differentiation or market specialisation but they actually see what other competitors do and their decisions depend on the competitors as wellbut one prime difference of oligopoly and monopolistic competition is that oligopoly has high barriers to entry and that is the reason why there are only few firms in the market but monopolistic competition has no barriers to entry but there is product differentiation among the the players all in all and therefore in this regard it can be mentioned that
(D) is the answer to this question
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What distinguishes oligopoly from monopolistic competition?
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