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Doctors Medicines MCQs Q&A

  1. Monopoly
  2. Imperfect condition
  3. Oligopoly
  4. Perfect competition
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1 Answers

Answer: Option 1

In Monopoly market structure the degree of control over the price of its product by a firm very large. In a monopoly type of market structure, there is only one seller, so a single firm will control the entire market. It can set any price it wishes since it has all the market power.

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