Start learning →

Perfect competition or oligopoly?

Exercise and reference answers

Left
Perfect comp.
Items
  1. Item
    Many tiny sellers
    Answer
    Perfect comp.
  2. Item
    Identical products
    Answer
    Perfect comp.
  3. Item
    Free entry
    Answer
    Perfect comp.
  4. Item
    Only a few firms
    Answer
    Oligopoly
  5. Item
    Rivals watch you
    Answer
    Oligopoly
  6. Item
    Entry barriers
    Answer
    Oligopoly
Right
Oligopoly
Instructions
Swipe left for Perfect competition, right for Oligopoly.

Explanation

_Source: OpenStax Principles of Microeconomics for AP(R) Courses 2e (CC BY 4.0), Ch 10 'Monopolistic Competition and Oligopoly', sections 10.1-10.2_
Continue learning with Quill →

Browse more AP Microeconomics questions and exercises →