All of the Following Are True of a Monopoly Except

question 105

Multiple Choice

All of the following are true of a monopoly except

• A)high barriers to entry exist.
• B)it has market power.
• C)it is a price maker.
• D)it is a single seller.
• E)there are many close substitutes for its product.

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Definitions:

Multiply

A mathematical operation that combines two quantities to produce a product.

Standard Form

A way of writing numbers, especially large numbers, by expressing them as a power of ten, or, in algebra, a way of writing equations.

Multiply

The operation of adding a number to itself a certain number of times, equivalent to repeated addition.

Standard Form

A way to write numbers using the digits 0-9, with each digit having a place value. In algebra, it refers to a way of arranging equations to a specific form.