What Type of Competitive Structure Exists When Just a Few

question 30

Multiple Choice

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

• A) Monopoly
• B) Oligopoly
• C) Monopolistic competition
• D) Mixed competition
• E) Pure competition

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Definitions:

Reduced Price

Reduced price indicates a discount or decrease in the original selling price of goods or services, often to clear inventory or during sales promotions.

Factory

A building or group of buildings where goods are manufactured or assembled chiefly by machine.

Selling Price

The amount of money that a seller asks for in exchange for a product or service.

Mark-up

The amount added to the cost price of goods to cover overhead and profit, resulting in the selling price.