In general, the Select one: More firms there are in a market, the less competition there is and the higher the market price Fewer firms there are in a market, the more competition there is and the lower the market price O Fewer firms there are in a market, the less competition there is and the lower the market price More firms there are in a market, the more competition there is and the lower the market priceThe following chart shows an oligopoly market where the firms act together to maximise profit. P($) MC ATC D MR 15 30 45 60 75 Q In this chart, the total profit made in this market is Select one: $900 O $450 O $675 $1,350Interdependence in an oligopoly comes about because of Select one: O A small number of firms O Collusion O A differentiated product O High barriers to entryThe main advantages of monopoly are Select one: O Incentives to innovation and setting a high price Setting a low price and producing a high output Incentives to innovation and exploiting economies of scale and scope O Setting a high price and producing a low output