12. Which is not a characteristic of oligopolyA. The firms practice mutual interdependence B. There a few large firms that dominate the market C. The product must be standardized D. There high barriers to entry into the market 15. Explain one side of the argument Over whether or not perfect competition is more economically efficient than monopolistic competition not monopoly16. Explain how product differentiation-advertising-product loyalty-ed(price elasticity of demand) are connected in monopolistic competition

14. Explain how to calculate a point on the marginal revenue (MR) curve for a monopoly and plot the MR point. Use the graph to help explain if you can. If you cannot use the graph, you must give a detail explanation of what should be plotted in the graph ( You cannot use the intercepts for either axis as the calculated point) (6pts) P D