There Is No Direct Competition in a Particular Industry, Yet

question 164

Multiple Choice

There is no direct competition in a particular industry, yet the firms have almost no control over pricing. This industry is an example of ______.

• A) monopolistic competition
• B) a regulated monopoly
• C) an oligopoly
• D) a pure monopoly

---

Definitions:

Equally Distributed

A situation or condition in which resources, wealth, or opportunities are shared evenly amongst all participants or members of a group.

Program

A set of planned activities or instructions designed to achieve a specific outcome, which can be implemented through software in computing or policy in government and organizations.

Lyndon Johnson

The 36th President of the United States, serving from 1963 to 1969, known for his domestic policies like the Great Society and civil rights advancement.

Official Poverty Line

The base level of earnings needed to secure a decent standard of living within a particular country.