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:

Attraction To Group-Social

The inclination of individuals to be drawn to and desire affiliation with groups for social connection and identity.

Group Integration-Task

The extent to which members of a group are cohesive and unified towards achieving a common task or goal.

Cohesion

refers to the degree of camaraderie and unity within a group, influencing its efficiency, satisfaction, and longevity.

Instrumental Means

Tools or methods used to achieve a specific end or goal, especially within the context of achieving desired outcomes or objectives.