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If a firm sells its output on a market that is characterized by few sellers and many buyersand limited long-run resource mobility, then the firm is

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Question:

If a firm sells its output on a market that is characterized by few sellers and many buyersand limited long-run resource mobility, then the firm is

A.

a monopolist

B.

an oligopolist

C.

a perfect competitor

D.

a monopolistic competitor

Answer» b. an oligopolist

Note: The above multiple-choice question is for all general and Competitive Exams in India.