Ramsons Manufactures Binoculars

Multiple Choice

Ramsons manufactures binoculars.Although the binoculars are priced unreasonably high, Ramsons manages to sell a large number of units each year because Ramsons is the sole supplier of binoculars in the market.This is an example of:

A) a monopoly.
B) an oligopoly.
C) monopolistic competition.
D) pure competition.
E) more price competition.