Asked by
Katelyn Ramos
on Nov 26, 2024
Verified
In which set of market models are there the most significant barriers to entry?
A) monopolistic competition and pure competition
B) monopolistic competition and pure monopoly
C) oligopoly and monopolistic competition
D) oligopoly and pure monopoly
Barriers To Entry
Elements that obstruct or discourage new entrants from smoothly accessing a market or business sector.
Monopolistic Competition
A market structure featuring many companies selling similar but not identical products, allowing for some degree of market power and product differentiation.
Pure Competition
A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to perfect competition.
- Identify the distinctions among market structures through analysis of competitive levels, the number of operating firms, and their shares in the market.
Verified Answer
KK
Learning Objectives
- Identify the distinctions among market structures through analysis of competitive levels, the number of operating firms, and their shares in the market.