Advertisements
Advertisements
Question
State whether the following statement is TRUE and FALSE.
In a monopoly market, firm and industry are the same.
Options
True
False
MCQ
True or False
Advertisements
Solution
True
A monopoly market consists of only one seller or firm. This single firm caters to the needs of a large number of buyers. Because there is only firm in the market, the firm is regarded as the industry.
shaalaa.com
Is there an error in this question or solution?
