A Monopoly Occurs When

question 134

Multiple Choice

A monopoly occurs when

• A)There is only one producer of a good or service.
• B)There is only one buyer of a good or service.
• C)Owners take on additional risk and earn huge profits.
• D)Companies become greedy and raise the price of a good or service.

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Definitions:

Middle Ear

The part of the ear located between the eardrum and the inner ear that contains three bones which amplify sound.

Hz

Hertz, the unit of frequency in the International System of Units (SI), denoting one cycle per second.

Ossicles

Small bones in the middle ear that transmit sound vibrations from the eardrum to the inner ear; includes the malleus, incus, and stapes.

Hammer

A tool with a heavy, typically metal head attached to a long handle, used for breaking things apart or driving in nails.