In which form of the market structure is the degree of control over the price of its product by a fi...........

In which form of the market structure is the degree of control over the price of its product by a firm very large?

Monopoly

Imperfect Competition

Oligopoly

Perfect competition

- Monopoly

- Correct Answer

- A single firm dominates the market.

- The firm has significant control over pricing, as there are no close substitutes.

- Barriers to entry are high, preventing competition.

- Imperfect Competition

- Market with many players, but differentiated products.

- Some control over pricing, but not as much as a monopoly.

- Oligopoly

- Few large firms dominate the market.

- Firms have some control over prices, but they are interdependent.

- Perfect Competition

- Many firms sell identical products.

- No control over price, as the market dictates pricing.

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