What are the key characteristics of market structures like oligopoly and monopolistic competition, and how do firms compete within them?

Here are the answers to Question 1:

1.1
An oligopoly market is characterized by a few large firms dominating the market.
The correct option is C.
C) a few large firms dominate the market

1.2
Product differentiation is a key feature of monopolistic competition, where firms sell similar but not identical products.
The correct option is C.
C) product differentiation

1.3
Firms in monopolistic competition primarily compete through non-price competition, such as advertising and branding, to differentiate their products.
The correct option is B.
B) advertising and branding

1.4
The options for this question are incomplete in the provided image, so a definitive answer cannot be given.