Which of the following best states the main difference between a monopoly

and an oligopoly?

A. Monopolies have a slightly lower level of market concentration

than oligopolies.

B. Both monopolies and oligopolies involve a very low level of

competition.

O

C. Oligopolies involve more than one company while monopolies

involve only one.

) D. Neither a monopoly nor an oligopoly presents significant barriers

to entering the industry.

Question

Sariah Foster

Business

6 October, 01:07

Which of the following best states the main difference between a monopoly

and an oligopoly?

A. Monopolies have a slightly lower level of market concentration

than oligopolies.

B. Both monopolies and oligopolies involve a very low level of

competition.

O

C. Oligopolies involve more than one company while monopolies

involve only one.

) D. Neither a monopoly nor an oligopoly presents significant barriers

to entering the industry.

+5

Answers (1)

Know the Answer?

Felipe · Answer 1

I believe its C.

Explanation:

A monopoly contains a single firm that produces goods with no close substitute, while an oligopoly market has a small number of relatively large firms that produce similar, but slightly different products. In both cases, there are significant barriers to entry for other enterprises