Which of the following is the term used to judge monopolies based on the actions of the firm
rather than the market share?
- a) Structuralists
- b) Behavioralists
- c) Monopolists
- d) Marketists
Monopoly Market
A monopoly market is a market structure that is served by one lead supplier or seller. The seller gets to dominated the market as they are the only ones who have a particularly unique product that other sellers in the market do not have access to. In a monopolistic market, the sole seller is referred to as the price setter, as they are the ones to determine the price at which s the product will go for in the market.
Answer to the Question
There are various approaches that one can choose to view a market to determine the type of market structure. To determine whether a firm is a monopoly based on its actions, we focus on its behavior. From how it gets to price its products, the competition it faces, and the type of goods it gets to serve the market with.
The right answer is, therefore (B)
