1. A market consisting of many firms, low barriers to entry, some control over price, but considerable non-price competition is characteristic of:
a. Perfect competition b.Monopoly c.Monopolistic competition d.Oligopoly e.None of the above.
2. A market consisting of a few firms producing similar products with significant barriers to entry is characteristic of:
a. Perfect completion. b.Monopoly c.Monopolistic competition. d.Oligopoly e.None of the above