A market structure characterized by a single seller, a product for which there are no close substitutes, and strong barriers to entry known as__________.
a. perfect competition.
b. monopoly.
c. oligopoly.
d. None of the above.
Answer: B
A market structure characterized by a single seller, a product for which there are no close substitutes, and strong barriers to entry known as__________.
a. perfect competition.
b. monopoly.
c. oligopoly.
d. None of the above.
Answer: B