Of the following market structures, which are considered imperfectly competitive? i.Perfect competition
Ii)Monopoly
IIi)Monopolistic competition
IV)
Oligopoly
A)III only
B)II and III
C)III and IV
D)II, III, and IV

Question

Quizplus · Accepted Answer

Monopolistic competition and oligopoly are considered imperfectly competitive because they have elements of competition but also have market power that allows firms to influence prices.

Of the Following Market Structures, Which Are Considered Imperfectly Competitive