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A Market Which Has Relatively Few Sellers, Homogeneous Products, and Fairly

Question 38

Multiple Choice

A market which has relatively few sellers, homogeneous products, and fairly inelastic industry demand is an example of a(an) ______________ market situation.


A) pure competition
B) monopolistic competition
C) oligopoly
D) monopoly
E) Any of these is correct.

Correct Answer:

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