Examlex
Which of the following organizational forms is most expensive to set up?
Pure Monopoly
A market structure where a single seller controls the entire market for a particular product or service, with no close substitutes available.
Pure Competition
A market situation characterized by an infinite number of buyers and sellers, homogeneous products, and no barriers to entry or exit.
Monopolistically Competitive
A market structure where many firms sell products that are similar but not identical, allowing for significant influence over price due to product differentiation.
Pure Monopolist
is a market participant that solely controls the supply of a unique product or service without close substitutes, allowing for significant control over prices.
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