Which of the following terms describes a market structure where a single firm controls the entire market supply of a product or service, often leading to higher prices and reduced consumer welfare? - Study24x7
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Dev kumar
22 Aug 2024 12:30 PM study24x7 study24x7

Which of the following terms describes a market structure where a single firm controls the entire market supply of a product or service, often leading to higher prices and reduced consumer welfare?

A

Perfect Competition

B

Oligopoly

C

Monopoly

D

Monopsony

UPSC
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