ly competitive because there are many firms selling a differentiated product O D

Question

ly competitive because there are many firms selling a differentiated product O D monopolistically competitive because there are many firms facing the limited entry of new firms. E. an oligopoly because fims produce differentiated products and are price makers The industry for cruise lines is A. an oligopoly because the firms have no market power. O B. an oligopoly because there are a few firms that are price takers. c. an oligopoly because there are only a few firms that engage in strategic behavior. O D. monopolistically competitive because there are many firms producing a homogeneous product 0 E. monopolistically competitive because there are many firms facing the limited entry of new firms. The industry for firearms is A. an oligopoly because there are a few firms that are price takers. O B. monopolistically competitive because there are many firms selling a differentiated product. ° C. monopolistically competitive because firms that produce firearms face a perfectly elastic demand curve. 0 D. monopolistically competitive because there are many firms facing the limited entry of new firms. E, an oligopoly because firms produce differentiated products and are price makers. Click to select your answer and then click Check Answer. part 1810 5 esc : F1 F2 F3 F4 F5

Explanation / Answer

Option (c) is the right answer because firearms industry is monopolistc competition with players selling differentiated products and follow elastic demand

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