A single supplier of a good or service for which there is no close substitute is referred to as a(n)
A. strategic competitor.
B. oligopoly.
C. monopoly.
D. monopolistic competitor.
Answer: C
You might also like to view...
What is the difference between stock and flow measures?
What will be an ideal response?
At the start of the Civil War, the population in the U.S. was about half that of the United Kingdom
Indicate whether the statement is true or false
A bilateral monopoly exists when there is a
A) single buyer and many sellers in the market. B) single seller and many buyers in the market. C) large number of buyers and sellers in the market. D) single buyer and a single seller in the market.
The slope of an indifference curve represents the rate at which a person is willing to trade one good for another such that utility remains the same
a. True b. False Indicate whether the statement is true or false