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________ refers to the market situations whether there is one seller and there is not closesubstitute to the commodity sold by the seller.

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Question:

________ refers to the market situations whether there is one seller and there is not closesubstitute to the commodity sold by the seller.

A.

Perfect Competition

B.

Monopoly

C.

Oligopoly

D.

Monopolistic Competition

Answer» b. Monopoly

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