An Industry That Contains a Firm That Is the Only

question 80

Multiple Choice

An industry that contains a firm that is the only producer of a good or service for which there are no close substitutes and for which entry by potential rivals is prohibitively difficult is:

• A) a duopoly.
• B) a monopoly.
• C) an oligopoly.
• D) perfect competition.

---

Definitions:

Medication Administration Record

A document used in healthcare settings to record all drugs administered to a patient, including dosage, route, time, and the person who administered the medication.

Standard Dose

A commonly prescribed or administered amount of a medication or vaccine, considered effective for the general population without the need for individual adjustments.

Bitter-Tasting Oral Medication

Medicines taken by mouth that have a primarily bitter flavor, often challenging for patient compliance.

4-Year-Old

Refers to a child who is four years old, a developmental stage characterized by increased independence, imagination, and motor skills development.