Asked by
Israa Shaaban
on Nov 05, 2024
Verified
A(n) ________ industry has a single, unique product and blocked entry.
A) perfectly competitive
B) monopolistically competitive
C) monopolistic
D) oligopolistic
Monopolistic Industry
An industry dominated by a single firm that has control over the market prices and production.
Unique Product
A product that has distinct features or attributes making it different from others in the market.
Blocked Entry
A situation where new firms are unable to enter an industry due to high barriers to entry, such as high start-up costs or stringent regulations.
- Attain insight into the elementary traits and demonstrations of various market organizations, including perfect competition, monopolistic competition, oligopoly, and monopoly.
Verified Answer
DF
Learning Objectives
- Attain insight into the elementary traits and demonstrations of various market organizations, including perfect competition, monopolistic competition, oligopoly, and monopoly.