A market structure in which there is only one supplier and there are substantial, potentially insurmountable, barriers to new entrants is known as:
A) oligopoly.
B) monopoly.
C) monopolistic competition.
D) pure competition.

Question

Quizplus · Accepted Answer

understand the importance of the different micro-environmental factors. Table 2.1 - Monopoly: There is only one supplier and there are substantial, potentially insurmountable, barriers to new entrants.

A Market Structure in Which There Is Only One Supplier