Under monopoly market structure. the degree of freedom in pricing decision is ____________.

very low

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quite good

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very high

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zero

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Solution

The correct option is B quite good
Under monopoly market structure. the degree of freedom in pricing decision is quite good. Monopoly market is a price maker and not a price taker. In monopoly market structure, there is only one seller and many buyers. To earn a positive economic profit, the monopolists usually set a higher band of prices.

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