Question

How is oligopolistic competition different from monopolistic competition?

A. Oligopoly firms charge prices lower than marginal cost and monopolistic firms charge prices above the marginal cost.

B. There are no barriers to entry in oligopoly and there are many barriers to entry in monopolistic competition.

C. There are differentiated products in oligopoly and homogenous products in monopolistic competition

D. There are few firms in oligopoly and there are large number of firms in monopolistic competition