One of the similarities between monopolistic competition and oligopolies is that they both
A) have significant barriers to entry.
B) earn economic profit in the long run.
C) are examples of imperfect competition.
D) set price equal to average total cost in the long run.

Question

Quizplus · Accepted Answer

Both monopolistic competition and oligopolies are forms of imperfect competition, where firms have some control over the price of their products, unlike in perfect competition.

One of the Similarities Between Monopolistic Competition and Oligopolies Is