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Question
In which of the following market structure is the degree of control over the price of its product by a very large firm?
In which of the following market structure is the degree of control over the price of its product by a very large firm?
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Solution
The correct option is D monopoly
A monopoly is
a market containing a single firm that has or is close to total control of the
sector. Monopolies are typically forced to divest assets to satisfy
anti-monopoly laws. These antitrust laws were put in place to protect consumers
and control companies from evil practices thanks to total control.
A monopoly is a market containing a single firm that has or is close to total control of the sector. Monopolies are typically forced to divest assets to satisfy anti-monopoly laws. These antitrust laws were put in place to protect consumers and control companies from evil practices thanks to total control.
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