Examlex

Solved

An Industry with a Firm That Is the Only Producer

question 37

Multiple Choice

An industry with a firm that is the only producer of a good or service for which there are no close substitutes and for which entry by potential rivals is prohibitively difficult is:


Definitions:

Federalist Papers

A series of 85 essays written by Alexander Hamilton, James Madison, and John Jay promoting the ratification of the U.S. Constitution.

Ratification

The official way to confirm something, usually by vote. It is the formal validation of a proposed law or amendment.

Alexander Hamilton

A founding father of the United States, first Secretary of the Treasury, and influential in laying the groundwork for the nation's financial system.

James Madison

An American statesman, diplomat, and the fourth President of the United States, known as the "Father of the Constitution" for his pivotal role in drafting and promoting the U.S. Constitution.

Related Questions