The Market Structure Where There Is a Single Supplier of a Good

question 28

Multiple Choice

The market structure where there is a single supplier of a good or service for which there is no close substitute is

• A) a price searcher.
• B) a monopoly.
• C) a tariff.
• D) the most economically efficient market structure.

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Definitions:

Discrimination

Unfair or prejudicial treatment of individuals based on characteristics such as race, gender, age, or sexual orientation.

Discrimination Coefficient

A measure used in economics to quantify the extent to which individuals or groups are treated differently, often in the context of market transactions or employment.

Wage Rate

The amount of compensation a worker receives in exchange for their labor, typically expressed per hour or year.

African-American Workers

Refers to the labor force segment consisting of workers who are identified as African-American or Black, focusing on their employment conditions, challenges, and contributions.