Question

Which of the following market structures has the maximum number of sellers?

Options

• Oligopoly

• Monopolistic competition

• Monopsony

• Monopoly

Answer 1

Monopolistic competition

Explanation:

Monopolistic competition involves a large number of independent retailers (such as small restaurants or retail stores) competing with one another. An oligopoly, on the other hand, has only a few dominant enterprises; a monopoly has only one seller; and a monopsony is defined by a market structure with a single buyer rather than a primary focus on the greatest number of sellers.