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Tidy Tidy
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9 years ago
We can draw demand curves for firms in perfectly competitive and monopolistically competitive industries, but not for oligopoly firms. The reason for this is
A) there are no barriers to entry in perfectly competitive and monopolistically competitive industries. There are high barriers to entry in oligopoly industries.
B) we can assume that the prices charged by perfectly competitive and monopolistically competitive firms have no impact on rival firms. For oligopoly this assumption is unrealistic.
C) that perfectly competitive and monopolistically competitive firms are price takers. Oligopoly firms are price makers.
D) perfectly competitive and monopolistically competitive firms sell standardized products. Oligopoly firms sell differentiated products.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Chimelo46Chimelo46
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8 years ago
Glad to help you, and good luck with your course.
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