Select the Correct Word for Each Sentence

question 16

Multiple Choice

Select the correct word for each sentence. I know that he is (suppose, supposed) to be here soon.

• A) suppose
• B) supposed

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Definitions:

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, thereby controlling the entire market supply.

Dominant Strategy

A strategy that yields the best outcome for a player, regardless of the strategies chosen by other players in a game.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Cartel

An agreement among competing firms to control prices or production in a market, often to maximize profits by minimizing competition.