Question

Which of the following terms represents a market that has more than one firm?

A firm that possesses a legal monopoly

A firm that possesses 100% of the market share

Oligopoly

Monopolist firm
GPT-4o mini
The term that represents a market that has more than one firm is **Oligopoly**. In an oligopoly, a small number of firms dominate the market, but there is still competition among them.

In contrast, a firm that possesses a legal monopoly or possesses 100% of the market share indicates a single firm controlling the entire market, and a monopolist firm also refers to this scenario.

Related Questions

TCO 4) One result of taking a firm private is. 1.the firm's stock is no longer available for purcha... Suppose that for the firm below, the goods market is perfectly competitive. The market price of the... Which of the following terms represents a market that has more than one firm? Monopolist firm... Why does no one firm dominate the market in a perfect competition? Group of answer choices Each...