When There Is Only One Business Providing a Product in a Given

question 23

Multiple Choice

When there is only one business providing a product in a given market,there exists

• A) an oligopoly.
• B) unfair competition.
• C) pure competition.
• D) monopolistic competition.
• E) a monopoly.

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Definitions:

Absolute Threshold

The smallest quantity of physical energy that can be reliably detected by an observer.

Groupthink

A psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Suppress Dissension

The act of preventing or reducing disagreement or opposition, typically within a group or organization.

Deindividuation

A psychological state characterized by diminished self-consciousness, reduced social identity, and disinhibited behavior, often occurring in group settings.