A(n) _____ market has a single firm and _____,whereas a(n) _____ market has _____ firm(s) and _____.

A) oligopolistic;no barriers to entry;monopolistic;many;easy entry and exit
B) monopolistic;barriers to entry;monopolistically competitive;many;easy entry and exit
C) monopolistic;barriers to entry;oligopolistic;few;no barriers to entry
D) monopolistically competitive;barriers to entry;monopolistic;one;barriers to entry

Monopolistically Competitive

Refers to a market structure where many firms sell products that are similar but not identical, leading to competition based on product differentiation.

Barriers To Entry

Economic, procedural, or regulatory obstacles that prevent new competitors from easily entering an industry or area of business.

Oligopolistic

Pertaining to a market structure where a small number of firms dominate the industry, influencing prices and marketing strategies.