A Firm That Is the Sole Producer of a Good

question 31

Multiple Choice

A firm that is the sole producer of a good or service with no close substitutes is called a(n) :

• A)perfectly competitive firm.
• B)monopolist.
• C)oligopolist.
• D)monopolistically competitive firm.

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Definitions:

Bank of Nova Scotia

A multinational Canadian banking and financial services company also known as Scotiabank.

VALS Profile

A psychographic tool developed to categorize consumers into types based on their values, attitudes, and lifestyles to better understand buying behavior.

Drive

An innate or learned psychological factor that compels or motivates an individual's actions toward a particular goal.

Customer Value

How a customer views the value of a product or service compared to other available options.