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kap26 [50]
3 years ago
11

There is no direct competition in a particular industry, yet a firm operating in such an industry will have almost no control ov

er pricing. This industry is an example of _____.
Business
1 answer:
nikklg [1K]3 years ago
5 0

Answer: regulated monopoly

Explanation:

A monopoly is a form of business whereby whereby there's only one seller in a particular market.

When there is no direct competition in a particular industry, and yet such firm is operating in such an industry will have almost no control over pricing, this is a regulated monopoly. Government regulates monopoly so that the interest of consumers will be protected.

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A corporation is defined as a form of business owned by shareholders and controlled by elected group of board of directors. A corporation is a legal entity which means that it can sue and be sued. It can also enter into a contractual relationship.

In a corporation, the liability of the

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