An industry in which a few large firms supply most or all of a product is known as:
A) Perfect competition.
B) A monopoly.
C) Monopolistic competition.
D) An oligopoly.
Correct Answer:
Verified
Q9: Which of the following is not characteristic
Q10: Competitive firms cannot individually affect market price
Q11: An industry in which many firms produce
Q12: Market power:
A) Is the same for all
Q13: The number and relative size of firms
Q15: A perfectly competitive firm:
A) Can sell all
Q16: An industry in which only two firms
Q17: In a perfectly competitive market:
A) A single
Q18: Which list has market structures in the
Q19: Which of the following is an example
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