Match the definition with the type of market structure.

Question

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(1 point)
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A market with significant barriers to entry and a single price-setting firm.
A market with no barriers to entry and a large number of price-setting firms.
A market with significant barriers to entry and a small number of price-setting firms.
A market with no barriers to entry and a large number of price-setting firms.

perfect competition
monopolistic competition
oligopoly
monopoly

Answer 1

Here is the matching of definitions with the type of market structure:

1. A market with significant barriers to entry and a single price-setting firm. - monopoly
2. A market with no barriers to entry and a large number of price-setting firms. - perfect competition
3. A market with significant barriers to entry and a small number of price-setting firms. - oligopoly
4. A market with no barriers to entry and a large number of price-setting firms. - monopolistic competition

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