In Which Market Structure Does One Firm Sell a Good

question 31

Multiple Choice

In which market structure does one firm sell a good or service with no close substitutes and there is a barrier blocking the entry of new firms?

• A) only monopoly
• B) only oligopoly
• C) perfect competition
• D) monopolistic competition
• E) either monopoly or oligopoly

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Definitions:

Constipated

A condition where an individual has difficulty in evacuating bowels, often leading to infrequent and/or painful elimination.

Side Effect

An unwanted or unexpected reaction to a medication or treatment that occurs in addition to the desired therapeutic effect.

Kidney Disease

A condition characterized by the gradual loss of kidney function over time, leading to the buildup of waste products in the blood.

Excretion

The process by which waste products of metabolism are eliminated from an organism's body, maintaining internal chemical homeostasis.