When There Is Only One Business Providing a Product in a Given

question 73

Multiple Choice

When there is only one business providing a product in a given market,there exists:

• A)an oligopoly.
• B)modified competition.
• C)pure competition.
• D)monopolistic competition.
• E)a monopoly.

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Definitions:

Nitrogen

A chemical element with symbol N and atomic number 7, essential for all living organisms as it is a major component of amino acids and nucleic acids.

Kinetic Energy

The energy possessed by an object due to its motion, dependent on the object’s mass and velocity.

Reaction

A process in which substances interact to form new products, often characterized by a change in energy.

Product(s)

Items or substances that are the result of a process or activity, which can be tangible goods or intangible services.