Multiple Choice
In a large metropolitan market, it is relatively easy to set up a law office. The ease of entry explains why you will find hundreds of lawyers listed in the Toronto phone book. Each lawyer is a close substitute for another but with slight differences. Which of the following market structures best describes the one in which lawyers operate?
A) monopolistic competition
B) pure competition
C) oligopoly
D) perfect monopoly
Correct Answer:
Verified
Correct Answer:
Verified
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