A. the single vendor can prevent the entry of all other vendors in the market
B. the single vendor gets the absolute franchise of the product
C. the single vendor is the only one who has the permit to sell
D. the single vendor is the only one who has the knowledge of the product
Related Mcqs:
- A _____________ is a market situation where economies of scale are so significant that cost are only minimized when the entire output of an industry is supplied by a single producer so that the supply costs are lower under monopoly that under perfect competition ?
A. Perfect monopoly
B. Bilateral monopoly
C. Natural monopoly
D. Ordinary monopoly - “Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the_________________?
A. Law of diminishing return
B. Law of supply
C. Law of demand
D. Law of supply and demand - Aside from many sellers and many buyers, which one is a characteristic of perfect competition ?
A. Homogeneous product
B. Free market entry and exit
C. Perfect information and absence of all economic friction
D. All of the above - What is the opposite of perfect competition ?
A. Monopsony
B. Oligopoly
C. Oligopsony
D. Monopoly - What is another term for “perfect competition” ?
A. Atomistic competition
B. No-limit competition
C. Free-for-all competition
D. Heterogeneous market - Oligopoly exists when there is/are _______________?
A. Few sellers and few buyers
B. Few sellers and many buyers
C. Many sellers and few buyers
D. One seller and few buyers - What market situation exists where there is only one buyer and only one seller ?
A. Monopsony
B. Monopoly
C. Bilateral monopsony
D. Bilateral monopoly - What market situation exists where there are few sellers and few buyers ?
A. Oligopoly
B. Oligopsony
C. Bilateral oligopoly
D. Bilateral Oligopsony - What type of bond where the corporation’s owner name are recorded and the interest is paid periodically to the owners with their asking for it ?
A. Preferred bond
B. Registered bond
C. Incorporators bond
D. Callable bond - What refers to an imaginary cost representing what will not be received if a particular strategy is rejected ?
A. Opportunity cost
B. Ghost cost
C. Horizon cost
D. Null cost
