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Ajax Corp. is a multinational group that manufactures medical equipment and a variety of household electrical appliances. Kevin Oi is the head of the SBU that produces and markets medical equipment globally. The company's operating units appear to be a(n) ________.
Monopoly
A market structure characterized by a single seller selling a unique product with no close substitutes, leading to significant control over the market price.
Close Substitutes
Products or services that can serve as replacements for each other with minor adjustments, often similar in function or purpose.
Barriers To Entry
Factors that make it difficult for new firms to enter a market, such as high startup costs, complex regulations, or entrenched competitors.
Monopolistic Competition
A market structure characterized by many firms selling differentiated products, allowing for some degree of market power.
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