When One Firm Sells a Good or Service That Has

question 245

Multiple Choice

When one firm sells a good or service that has no close substitutes and a barrier blocks the entry of new firms,what type of market is this?

• A) perfect competition
• B) only monopoly
• C) oligopoly
• D) only monopolistic competition
• E) either monopoly or monopolistic competition

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Definitions:

Heart Rate

The number of heartbeats per unit of time, usually expressed as beats per minute (bpm), an important measure of heart health and physical fitness.

Stimulus

Any event or situation that evokes a response from an organism or system.

Emotion

A multifaceted mental state that encompasses a person's personal feelings, physical reactions, and actions or expressions.

Autonomic Nervous System

The autonomic nervous system is a part of the nervous system responsible for controlling involuntary bodily functions, such as heart rate, digestion, and breathing.