When One Firm Sells a Good or Service That Has

question 245

Multiple Choice

When one firm sells a good or service that has no close substitutes and a barrier blocks the entry of new firms,what type of market is this?

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

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Definitions:

Hybrid Systems

Systems that combine elements from different domains or technologies, such as digital and analog processes or mechanical and electronic components.

Unidirectional Communication

Communication that flows in one direction only, from the sender to the receiver, without an expectation for a response or feedback.

Communications Technology

Tools and platforms that facilitate the exchange of information through electronic means, including the internet, social media, and mobile devices.

Intrusive

Undesirably aggressive or imposing, often interrupting privacy or personal space.