13 multiple choice 2 points which word or phrase best completes the diagram? features of? low barriers to…

13 multiple choice 2 points which word or phrase best completes the diagram? features of? low barriers to entry many competing firms businesses selling the same product c. monopolies a. monopolistic competition b. pure competition d. oligopolies

13 multiple choice 2 points which word or phrase best completes the diagram? features of? low barriers to entry many competing firms businesses selling the same product c. monopolies a. monopolistic competition b. pure competition d. oligopolies

Answer

Brief Explanations:

Pure competition is characterized by low barriers to entry, a large number of competing firms, and businesses selling identical products. Monopolies have one firm and high barriers. Monopolistic competition has differentiated products. Oligopolies have few firms.

Answer:

b. Pure Competition