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​_______ arises when there is one​ firm, which produces a good or service that has no close substitutes and in which the firm is protected by a barrier preventing the entry of new firms.

  


A.

Monopoly

B.

Monopolistic competition

C.

Oligopolistic competition

D.

Oligopoly


The water supplier in your town is an example of​ _______.

  


A.

perfect competition

B.

a monopoly

C.

monopolistic competition

D.

an oligopoly

 


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