Which of the Following Is Most Likely Produced in a Monopolistically

question 164

Multiple Choice

Which of the following is most likely produced in a monopolistically competitive market?

• A)soybeans
• B)autos
• C)fast food
• D)oil
• E)local phone service

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Definitions:

Worldwide

The term worldwide refers to something that is present, occurring, or available in all parts of the world or spanning the globe.

Food and Drug Administration

A federal agency of the United States Department of Health and Human Services responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Public Health Service

A government or statutory body's activities and policies designed to promote the health and well-being of its population.

Legislation

Laws and statutes proposed and enacted by a government's legislative body to regulate, authorize, sanction, grant, declare, or restrict.