Which of the Following Statements About Monopoly Is False

question 18

Multiple Choice

Which of the following statements about monopoly is false?

• A)A single firm serves the market.
• B)There are no close substitutes for the monopolist's output.
• C)There are usually significant barriers to entry.
• D)Because there is a single firm serving the entire market, the monopolist can charge whatever price it wants to for its output.

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Definitions:

Historical Data

Information or records relating to past events, conditions, or performances, used for analysis, comparison, or forecasting.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.

Population

The entire group of individuals or items that is the subject of a statistical analysis.

COUNT(range)

A function in Excel that returns the number of cells containing numbers within a specified range.