Which of the Following Describes the Market Structure of Monopoly

question 162

Multiple Choice

Which of the following describes the market structure of monopoly?

• A)many firms with some control over price, and considerable product differentiation
• B)many firms with no control over price, producing identical products with no differentiation
• C)a few firms with some control over price, producing similar products which are close substitutes
• D)a few firms with no control over price, producing highly differentiated products
• E)a single firm producing all of the output for the industry

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Definitions:

C.K. Prahalad

An influential business thinker known for his work on core competencies and the bottom of the pyramid concept.

Bottom of the Pyramid

A concept in economics and business that targets the largest but poorest socio-economic groups in a global perspective for business.

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Companies that operate and compete in more than one country, embracing global markets and cultural diversity.

Sustainable Efficiency

Achieving productivity and performance goals in a manner that is environmentally responsible and can be maintained over the long term.