What type of firm is one that is already operating in a particular market?
A)Market leader
B)Entrant
C)Incumbent
D)Market follower
E)Monopolist

Question

Quizplus · Accepted Answer

An incumbent firm is one that is already operating in a particular market, meaning they have an established presence and are not a new entrant or follower. They may also be a market leader, but this is not always the case. An incumbent firm may face competition from other firms in the market. A monopolist, on the other hand, is a firm that is the sole provider of a product or service in the market.

What Type of Firm Is One That Is Already Operating