Economy, asked by dalwanisuresh36, 4 months ago

In which market firm is an industry?

A) perfect competition

B)Monopoly

C) Monopolistic competition

D) Oligopoly

Answers

Answered by shilpigarg492

Answer:

Monopoly

Explanation:

In Monopoly market there is only one seller of a commodity. The entry of other marketers are restricted through patents etc. That's why in Monopoly market firm is an industry.

Answered by tejasgupta

Answer:

b. Monopoly

Meaning of Industry:

All the firms dealing in a type of good are collectively called 'industry'.

What is Monopoly:

It is a type of market where there is only one seller of a type of product, that has no close substitutes, and a large number of buyers exist.

Reason:

A firm under monopoly can be called industry because it is the only firm selling that type of product in the complete market and no other firm(s) exist.

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