Which of the Following Is a Characteristic of a Monopoly

question 43

Multiple Choice

Which of the following is a characteristic of a monopoly market?

• A)one firm is the only supplier of a product for which there are no close substitutes
• B)entry into the market is blocked
• C)the firm can influence market price
• D)all of the above

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Definitions:

Horizontal Specialization

A division of labor where tasks are divided among employees at the same level within an organization, based on skills or expertise.

Mechanistic Structure

A mechanistic structure in an organization is characterized by rigid hierarchy, high levels of formalization, and centralized decision making.

Organic Structure

A flexible and decentralized organizational structure, characterized by low levels of formalization and high levels of employee autonomy, aimed at fostering innovation and adaptability.

Single Corporation

A business or company that operates independently without subsidiaries or affiliations with other entities.