Which Market Structure Is Characterized by the Following Characteristics

question 25

Multiple Choice

Which market structure is characterized by the following characteristics?
i.a large number of firms compete
ii.each firm produces a differentiated product
iii.firms are free to enter and exit

• A) perfect competition
• B) duopoly
• C) oligopoly
• D) monopolistic competition
• E) monopoly

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Definitions:

State Monopoly

A market structure where the production and distribution of a particular product or service is controlled exclusively by the government.

Broadcasting Corporation

An organization that produces and distributes content via radio or television channels to a wide audience.

Telecommunications Act

Legislation that regulates the telecommunications industry, often with the aim of promoting competition and protecting consumer interests.

Media Ownership

The control or possession of media companies or outlets by individuals, corporations, or other entities.