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Question
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Options
Both the number of sellers under oligopoly are small and in monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions are true.
Both the number of sellers under oligopoly are small and in monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions are false.
The number of sellers under oligopoly are small is true, in monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions is false.
The number of sellers under oligopoly are small is false, in monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions is true.
Solution
The number of sellers under oligopoly are small is true, in monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions is false.
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