There Are Generally, in Most Areas, a Large Number of Qualified

question 209

Multiple Choice

There are generally, in most areas, a large number of qualified physicians whose services are highly personalized.In addition to price, factors such as age, sex, location, and personality influence the choice of physician.Thus, the market is best described as

• A)perfectly competitive.
• B)a differentiated oligopoly.
• C)a monopoly.
• D)monopolistically competitive.

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Definitions:

Subculture

A group within a larger culture that differentiates itself with distinct values, behaviors, and interests.

Policy

A course of action or principle adopted or proposed by an organization or individual.

Named Beneficiary

An individual, group, or entity designated in an insurance policy or financial account to receive benefits or assets upon the occurrence of a specified event, such as the policyholder's death.

Partnership

A legal relationship between two or more persons for the purpose of carrying on a business with a view to profit.