Which of the Following Occurs When Only One Firm Provides

question 63

Multiple Choice

Which of the following occurs when only one firm provides the product or service in a particular industry?

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

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Definitions:

Discriminated Variable

A specific feature or cue in the environment that signals the availability of reinforcement or punishment, guiding behavior accordingly.

Consequence

The outcome or result of an action, often considered in terms of its effects or impacts.

Learning

The process of acquiring new understanding, knowledge, behaviors, skills, values, or preferences, often through study or experience.

Adaptation

The process by which organisms adjust to changes in their environment to survive and reproduce, and also a term used in psychology to describe how individuals adjust to new information or experiences.