Because of the Lack of Substitutes, the Market for Newly

question 202

Multiple Choice

Because of the lack of substitutes, the market for newly developed brand-name prescription drugs is best considered to be:

• A) perfect competition.
• B) monopolistic competition.
• C) oligopoly.
• D) monopoly.

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Definitions:

Appreciative Notes

Written expressions of gratitude or acknowledgment of others' contributions and positive attributes.

Medium

A means or channel of communication or expression; for example, the Internet, television, or print.

Type of Communication

The various forms and methodologies through which information is conveyed or exchanged between entities, such as verbal, non-verbal, written, and electronic.

Oral Communication

The process of expressing information or ideas by word of mouth.