Monopoly and oligopoly are the examples of___________________?
Correct answer: B. Imperfect competition
- A. Perfect competition
- B. Imperfect competition
- C. Pure competition
- D. NoneTry Prep Courses
Explanation
Monopoly and oligopoly are forms of imperfect competition because sellers have market power and the conditions of perfect competition are absent. Pure or perfect competition has many buyers and sellers selling a homogeneous product.
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