How does the market power of firms in an oligopoly compare to that in a monopoly?

• A. Firms in an oligopoly have no market power.
• B. Firms in an oligopoly have less market power than a monopoly.
• C. Firms in an oligopoly have the same market power as a monopoly.
• D. Firms in an oligopoly have more market power than a monopoly.

Answer: (B)