Which of the following best states the main difference between a monopoly and an oligopoly?
A:Monopolies have a slightly lower level of market concentration than oligopolies.
B:Neither a monopoly nor an oligopoly presents significant barriers to entering the industry.
C:Oligopolies involve more than one company while monopolies involve only one.
D:Both monopolies and oligopolies involve a very low level of competition.

C:Oligopolies involve more than one company while monopolies involve only one.

Explanation:

A monopoly is a market structure with one supplier serving a very large market. In a monopoly, a single firm sells to many buyers. The product or service offered by a monopoly has no close substitutes. Customers have no choice but to buy from the only firm providing the product or service. Monopolies may result from government policy or very restrictive barriers of entry.

An oligopoly is a market structure where very few firms dominated the market . It when four or five firms control the majority market share of a very large market. There could be other firms with very little market share. Firms in an oligopoly market may sell homogeneous or differentiated products. The few firms dominating the industry collaborate to profit from the market.

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answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.