Questions


August 2022 1 1 Report
b. Read the sentences carefully. Write the missing word in each item.

1. There is a free entry to and exit from the industry in a ________
market structure

2. In monopoly, there is a unique product and no close ________
for the firm's product

3. in monopoly, the fim and industry are synonymous. No ________ is observed

4. In oligopoly, the _________
is difficult and huge capital investments are needed to penetrate the market.

5 in ________ multiple fims produce similar and highly predictable products.

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