Problemas
one seller complete barriers to market entry no product differentiation Which of the following Is described by the characteristics Ilsted in the box? Answer A monopoly B oligopoly C pure competition (D) monopolistic competition D
Roztwór
Francisca
élite · Tutor durante 8 años
4.3
(313 Votos)
Respuesta
A
Explicación
## Step 1The problem presents a scenario where there is only one seller in the market, no product differentiation, and complete barriers to market entry. We are asked to identify the market structure that best fits these characteristics.## Step 2Let's analyze each option:### A monopolyA monopoly is a market structure where there is only one seller or provider of a product or service. This seller has complete control over the market, with no competition. The characteristics mentioned in the problem align perfectly with a monopoly.### B oligopolyAn oligopoly is a market structure where a small number of firms dominate the market. This does not match the problem's description as it involves more than one seller.### C pure competitionPure competition, also known as perfect competition, is a market structure where there are many sellers and buyers, and the products are identical. This does not match the problem's description as it involves no product differentiation.### D monopolistic competitionMonopolistic competition is a market structure where there are many sellers, but each seller offers a slightly different product. This does not match the problem's description as it involves product differentiation.## Step 3Based on the analysis, the market structure that best fits the characteristics mentioned in the problem is a monopoly.