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Question
What is the difference between a monopoly and an oligopoly?a. An oligopoly is one firm controlling all of the market of a product, whereas a monopoly is several firms controlling much of the market of a product.
b. A monopoly is one firm producing many different products and controlling much of the business market, whereas an oligopoly is one firm producing one product and controlling most of the business market.
c. A monopoly is one firm controlling all of the market of a product, whereas an oligopoly is several firms controlling much of the market of a product.
d. An oligopoly is one firm producing many different products and controlling much of the business market, whereas a monopoly is one firm producing one product and controlling most of the business market.
e. A monopoly is when one business controls at least 50 percent of an industry, whereas an oligopoly is when several businesses control at least 50 percent.
Answer
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Related questions
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