quiz\nquestion 6 of 8\namanda runs a business that has a few competitors. while her industry usually offers…

quiz\nquestion 6 of 8\namanda runs a business that has a few competitors. while her industry usually offers standardized products, she has some ability to differentiate them. she also has significant control over pricing. what type of market structure is her business?\noligopoly\nmonopoly\nperfect competition\nmonopolistic competition

quiz\nquestion 6 of 8\namanda runs a business that has a few competitors. while her industry usually offers standardized products, she has some ability to differentiate them. she also has significant control over pricing. what type of market structure is her business?\noligopoly\nmonopoly\nperfect competition\nmonopolistic competition

Answer

Brief Explanations:

In an oligopoly, there are few competitors. Firms have some product - differentiation ability and significant price - setting power. A monopoly has no competitors. In perfect competition, products are homogeneous and firms are price - takers. Monopolistic competition has many firms with some product differentiation but less price control compared to oligopoly.

Answer:

A. Oligopoly