Which of the Following Is Not a Characteristic of a Monopoly

question 606

Multiple Choice

Which of the following is not a characteristic of a monopoly?

• A)barriers to entry
• B)one seller
• C)one buyer
• D)a product without close substitutes

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Definitions:

Outright Collusion

An openly cooperative effort among competitors to manipulate market prices, limit competition, or divide markets among themselves illegally.

Oligopolist

A market participant in an oligopoly, meaning they are one of a few firms dominating a particular industry, often influencing prices and market conditions.

Hewlett-Packard

An American multinational information technology company known for its wide range of hardware components as well as software and related services.

Medical Doctor

A professionally trained and licensed individual authorized to practice medicine, including diagnosing illnesses and prescribing and administering treatment for people suffering from injury or disease.