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Torie Pollard
on Nov 27, 2024

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Which market model assumes the least number of firms in an industry?

A) monopolistic competition
B) pure competition
C) pure monopoly
D) oligopoly

Least Number

The smallest number in a given set of numbers.

Market Model

A theoretical construct that describes the functioning of a market, including the roles of buyers and sellers and the determination of prices.

Pure Monopoly

A market structure in which a single seller controls all production of a good or service with no close substitutes, leading to high barriers to entry for other firms.

  • Understand how varying numbers of organizations in a market affect the structure of industry models and the degree of competitive pressure.
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Hajer AlyafaiNov 29, 2024
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