If a firm sells its output on a market characterized by a single seller and many buyers of a homogeneous product for which there are no close substitutes, then the firm is a: Select one: a. Oligopoly b. Perfect Competitive. c. Monopolist d. Monopolistic Competitor.

If a firm sells its output on a market characterized by a single seller and many buyers of a homogeneous product for which there are no close substitutes, then the firm is a: Select one: a. Oligopoly b. Perfect Competitive. c. Monopolist d. Monopolistic Competitor.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If a firm sells its output on a market characterized by a single seller and many buyers of a homogeneous product for which there are no close
substitutes, then the firm is a:
Select one:
a. Oligopoly
b. Perfect Competitive.
c. Monopolist
d. Monopolistic Competitor.
O o o

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