A Market Served by Only One Firm Is Called A

question 73

Multiple Choice

A market served by only one firm is called a:

• A)perfectly competitive market.
• B)monopoly.
• C)oligopoly.
• D)Any of the above could be correct.

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Definitions:

Sudden Onset

Refers to the rapid development of symptoms or conditions, often without warning.

Extreme Fatigue

A condition of overwhelming and persistent tiredness or lack of energy not relieved by rest.

Common Cold

A viral infectious disease of the upper respiratory tract characterized by symptoms like sneezing, coughing, sore throat, and runny nose, usually self-limiting in nature.

Influenza

An extremely infectious virus affecting the respiratory system, leading to high fever, significant discomfort, and nasal congestion, frequently seen in widespread outbreaks.