A firm that holds a monopoly position in the market place is
A) a price maker
B) a price taker
C) monopolistically competitive
D) subject to infinite market forces

Name: A firm that holds a monopoly position in the market place is A) a price maker B) a price taker C) monopolistically competitive D) subject to infinite market forces
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Question

Quizplus · Accepted Answer

A firm that holds a monopoly position in the market is a price maker because it has significant control over the price of its product, due to the lack of close substitutes.

A Firm That Holds a Monopoly Position in the Market