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:

Health Psychologists

Professionals specializing in the study and application of psychological principles to promote health, prevent illness, and improve healthcare systems.

Promoting Health

The process of enabling people to increase control over, and to improve, their health.

Psychological Principles

Fundamental theories or beliefs guiding the understanding and study of psychology.

Chronic Diseases

Long-lasting health conditions that may not be cured but can be controlled through medication, therapy, and lifestyle changes.