Which of the Following Occurs When Only One Firm Provides

question 38

Multiple Choice

Which of the following occurs when only one firm provides the product or service in a particular industry?

• A)duopoly
• B)monopsony
• C)oligopoly
• D)monopoly
• E)oligopsony

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Definitions:

Blood Samples

Specimens of blood collected for analysis or testing for medical purposes.

First Serves

In tennis, the initial serve attempt in a point, which must land in the diagonally opposite service box to be considered valid; if unsuccessful, it's followed by a second serve.

Probability

The mathematical likelihood of an event happening, often expressed as a fraction or percentage.

Independent Events

Two or more events where the occurrence or non-occurrence of one does not affect the occurrence of the other(s).