If there is a single firm in the market, then the market is considered:
A) monopolistically competitive.
B) perfectly competitive.
C) a monopoly.
D) an oligopoly.

Name: If there is a single firm in the market, then the market is considered: A) monopolistically competitive. B) perfectly competitive. C) a monopoly. D) an oligopoly.
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Question

Quizplus · Accepted Answer

When there is only one firm in the market, it is considered a monopoly, as this firm has exclusive control over the market and its products or services.

If There Is a Single Firm in the Market, Then