8 Important differences exist between monopolistic competition and oligopoly markets. Show your understanding of these differences by listing the following terms under the particular type of market structure. Enter appropriate number only under the specific type of market. 6 marks 1 Relatively large number of buyers and sellers 2 Product differentiation is the key feature 3 Relatively high concentration ratio 4 Mutual interdependence 5 Downward sloping elastic demand curve 6 Independent price policy 7 Few large firms 8 MR curve lies below the AR curve 9 Homogeneous as well as differentiated products 10 Huge capital investment and large scale advertising expenses 11 Beauty salon and barber shops 12 Covert collusion Monopolistic competition Oligopoly These questions define a certain type of monopoly or something. Please give me the answer to what defines these