What is a difference between oligopoly and monopolistic competition? O Oligopolists consider the actions and reactions of their competitors. Oligopolists only compete with monopolists. Monopolistic competitors act like monopolies and oligopolists do NOT. Monopolistic competitors can make long-run profits.

What is a difference between oligopoly and monopolistic competition? O Oligopolists consider the actions and reactions of their competitors. Oligopolists only compete with monopolists. Monopolistic competitors act like monopolies and oligopolists do NOT. Monopolistic competitors can make long-run profits.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3. How does quantity and price for a monopolist compare to quantity and price for a perfectly competitive firm?
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Fill in the blank and answer in 5-6 sentence only
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