The distinction between a single firm & an Industry vanishes in which of the following market condition
a)Monopoly
b)Perfect competition
c)Monopolistic competition
d)Imperfect competition
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It vanishes in monopoly
An industry consists of firms and in monopoly there is only 1 firm...thus the firm becomes the industry
An industry consists of firms and in monopoly there is only 1 firm...thus the firm becomes the industry
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