Question

In which market ‘Firm is an industry’?
(a) Perfect Competition (b) Monopoly
(c) Monopolistic Competition (d) Oligopoly

Answer 1

Answer:

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.

Answer 2

Answer:

(d) oligopoly

Explanation:

an oligopoly is a market form where in a market is dominated by small numbers of large sellers