Soru
A(n) __ exists when an industry or market has only one producer (or else is so dominated by one producer that other firms build cannot compete with it) A. monopolistic competition B. perfect competition C. monopoly D. a natural monopoly E. oligopoly
Çözüm
4.4
(188 Oylar)
Jülide
Profesyonel · 6 yıl öğretmeni
Uzman doğrulaması
Cevap
The correct answer is 'C. Monopoly'.
Daha Fazla
## Step 1The problem is asking us to identify the type of market structure where there is only one producer or a single producer dominates the market to the extent that other firms cannot compete with it. ## Step 2Let's analyze each option:### A. Monopolistic competitionThis is a type of imperfect competition where many producers sell products that are differentiated from each other. In this case, each firm has some control over its price, but this doesn't match the description given in the problem.### B. Perfect competitionThis is a theoretical market structure where many small firms compete against each other. The products are perfect substitutes for each other, and no single firm can influence the market price. This also doesn't match the description given in the problem.### C. MonopolyThis is a market structure characterized by a single seller or producer that controls the entire supply of a particular good or service. This matches the description given in the problem.### D. A natural monopolyThis is a type of monopoly that arises due to the high initial costs or powerful economies of scale of the dominant firm. This doesn't match the description given in the problem.### E. OligopolyThis is a market structure characterized by a few large firms that dominate the market. This doesn't match the description given in the problem.