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12 January, 09:12

Which term refers to an economic situation where only one company makes a product and is therefore able to fix the selling price?

a. monopoly

b. capitalism

c. anarchy

d. socialism

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  1. 12 January, 12:33
    0
    It would be the term "monopoly" that refers to an economic situation where only one company makes a product and is therefore able to fix the selling price, which is why such firms are often illegal in the United States.
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