A firm that is the sole seller of a product without close substitutes called:

Related MCQs

• Under oligopoly a single seller cannot influence significantly
• When marginal product reaches its maximum, what can be said of total product?
• In …….. approach, the demand for new product is estimated on the basis demand of existing product
• In ………approach, on the basis of the growth of an established product, the demand for the new product is estimated
• The firm charges price in tune with the industry’s price is called
• When all the productive services are increased in a given proportion, the product is increased in the same proportion. This situation is called:
• …………a statement in the form of a table that shows the different quantities of a commodity that a firm or a producer offers for sale in the market at different prices.
• ……….. a schedule that depicts the supply by an individual firm or producer of a commodity in relation to its price
• In a perfectly competitive market, individual firm
• The reason the marginal cost curve eventually increases as output increases for the typical firm is because: