Question

In which market form, the distinction of 'firm' and industry' disappears?
O
monopolistic
monopolist
competitive
O
oligopolistic​

Answer 1

In this case,the correct answer is the second option in the answer choices given in the question or monopolist.

Explanation:

• In a monopolist market,there is only one or single seller and the market competition or rivalry is none or zero.
• The monopolist is the only seller of the concerned good or service in the market.
• Since,monopolist is the single and only seller of the concerned product or service in the market,it essentially represents the entire industry for that particular product or service.
• Due to no market competition or rivalry,a monopoly can choose its profit maximizing price for the concerned good and service and has absolute market power.Therefore,a monopolist is also a price maker in the market.