A market situation in which a product that does not have close substitutes is being produced and sold by a single seller?

Academy of PakistanTest & Learning

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Academy of PakistanTest & Learning

804Active Users

329AgricultureMedium

AMonopoly

BOligopoly

CNone

DPerfect competition

Correct answer

D. Perfect competition

Explanation

The correct answer is Perfect competition.

A market situation in which a product that does not have close substitutes is being produced and sold by a single seller? - Answer and Explanation | Academy of Pakistan