Question

This industry type is likely to be the most inefficient by producing less and driving the price up:

Oligopoly

Perfect Competition

More than one of these is correct

Monopolistic Competition

Pure Monopoly

Answer 1

Monopolistic competition and pure Monopoly have always the benefit of keeping a higher price at low because monopolies have market power and they do it in order to maximize profits and monopolistic competition have differentiated products so that they will always have brand loyals which allows them to charge higher price. However Perfectly competitive market don't have the privilege and oligopoly pricing structure depends on the market leader and market shares. Because at least monopolistic and Monopoly competition markets, have the privilege

(c) more than one is correct is the answer