_____ Is a Market Structure with Just a Single Producer

question 5

Multiple Choice

_____ is a market structure with just a single producer completely dominating the industry.

• A) Oligopoly
• B) Monopoly
• C) Monopolistic competition
• D) Pure competition

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Definitions:

Presentment Warranties

Guarantees made by the presenter of an instrument (e.g., a check) regarding their authority and the validity of the instrument in a financial transaction.

Acceptor

A person (drawee) who accepts and signs a draft to agree to pay the draft when it is presented.

Draft

An instrument validating an order by a drawer to a drawee to pay a payee.

Imposter Rule

A legal principle concerning negotiable instruments which states that if an impostor induces a payor to issue a check made payable to the impostor, the drawer is liable for the amount to a holder in due course.