A Firm That Is the Only Seller of a Good

question 45

Multiple Choice

A firm that is the only seller of a good or service that does not have a close substitute is called

• A)a monopoly.
• B)an oligopolist.
• C)a market maker.
• D)a price maker.

---

Definitions:

Rawls's Ethics

A theory of justice proposed by philosopher John Rawls, focusing on fairness, equality, and moral decision-making under a veil of ignorance.

Medical Resources

The various types of health services, supplies, and equipment available for the diagnosis, treatment, and prevention of diseases and injuries.

Rawls

Refers to John Rawls, an American political philosopher noted for his work in moral and political philosophy, especially in the theory of justice as fairness.

Ross

Likely refers to W.D. Ross, a philosopher known for his contributions to ethical theory, particularly the concept of prima facie duties.