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2016年美國CPA模擬試題：Business（三）
A market with many independent firms, low barriers to entry, and product differentiation is best classified as:
a.An oligopoly
b.Monopolistic competition
c.Pure competition
d.A natural monopoly
答案：B
Explanation
Choice "b" is correct. A market with many independent firms, low barriers to entry, and product differentiation is best classified as monopolistic competition. There are few barriers to entry and firms exert some influence over price in such a market. Best examples are brand name consumer products.
Choice "d" is incorrect. A natural monopoly exists when economic and technical conditions permit only one efficient supplier.
Choice "a" is incorrect. The presence of only one company indicates a monopoly; the presence of a few companies would indicate an oligopoly.
Choice "c" is incorrect. Market conditions characterizing pure competition include homogeneous, not differentiated, products.
【我要糾錯(cuò)】 責(zé)任編輯：小瑩子
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