If a Firm Has Substantial Market Power, It Must Be

question 57

Multiple Choice

If a firm has substantial market power, it must be operating in an industry that would be classified as

• A) a monopoly or oligopoly.
• B) competitive price-taker.
• C) competitive price-searcher.
• D) competitive price-searcher or price-taker.
• E) competitive price-taker or a monopoly.

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