Which of the Following Characterizes the Difference Between Oligopoly and Monopolistic

Question 55
Multiple Choice

Which of the following characterizes the difference between oligopoly and monopolistic competition? A)Oligopolists are independent of each other;monopolistically competitive firms are interdependent. B)Monopolistically competitive firms experience zero long-run economic profit;oligopolists may experience positive long-run economic profit. C)There are many oligopolists but only a few monopolistically competitive firms. D)Monopolistically competitive firms face horizontal demand curves;oligopolists face downward-sloping demand curves.