As input for a presentation that you are jointly authoring, one of your marketing analysts submitted the following summary of the characteristics of the four different types of market structures companies compete in:
Competitive Structure
Number of Competitors
Market Barriers to Entry
Monopolistic Competition
Unlimited
No Barriers
Monopoly
Few
Some Barriers
Pure Competition
Many
Few Barriers
Oligopoly
One
Many Barriers
With respect to the classifications of number of competitors and barriers to entry, which one of the following statements is correct?
A) The monopolistic competition structure is properly classified.
B) The monopoly and oligopoly structures' classifications should be reversed.
C) The monopoly structure is properly classified.
D) The oligopoly structure is properly classified.
E) The pure competition and oligopoly structures are properly classified.
Correct Answer:
Verified
Q4: Marketers live in a world of constant
Q18: Your company is accepting proposals from a
Q26: Single people have quite different spending patterns
Q38: Changes in cultural values have little effect
Q183: The U.S. government has implemented a
Q184: The major source of cultural values is
Q189: Your company makes highly sophisticated components for
Q190: A marketing analyst on your team obtained
Q192: The Federal Reserve Bank just issued its
Q200: Although the monopoly is one of the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents