23. An industry with 100,000 fi rms is either a(n)

or a(n) .

Write in the letter that corresponds to the best answer for, using choice a), b), c), or d). ( LO1 , 2 , 3 , 4 )

a) perfect competitor/competition

b) monopolist/monopoly

c) monopolistic competitor/competition

d) oligopolist/oligopoly