Which of the Following Occurs When Only a Few Firms

question 60

Multiple Choice

Which of the following occurs when only a few firms providing a particular product or service dominate a market?

• A)Duopoly
• B)Monopsony
• C)Oligopoly
• D)Monopoly
• E)Oligopsony

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Definitions:

Stock Certificate

A document that serves as a stockholder’s proof of ownership in a corporation.

Fixed Face Value

The predetermined and constant value at which a financial instrument, like a bond, is redeemed by the issuer at maturity.

Dangerous Drug

A substance that has been legally recognized as posing a significant risk of harm to those who use it, often due to its potential for abuse or addiction.

FDA

The Food and Drug Administration, an agency of the U.S. Department of Health and Human Services responsible for protecting public health by ensuring safety and efficacy of drugs, biological products, and medical devices.