State whether the following statement is TRUE and FALSE.In a monopoly

1.	State whether the following statement is TRUE and FALSE.In a monopoly market, firm and industry are the same.OptionsTrueFalse
Answer» 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.

State whether the following statement is TRUE and FALSE.In a monopoly market, firm and industry are the same.OptionsTrueFalse

Answer»

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.

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State whether the following statement is TRUE and FALSE.In a monopoly market, firm and industry are the same.OptionsTrueFalse

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