A Monopoly Has Two Key Features, Which Are

question 68

Multiple Choice

A monopoly has two key features, which are

• A) barriers to entry and no close substitutes.
• B) close substitutes and no barriers to entry.
• C) franchises and barriers to entry.
• D) barriers to entry and close substitutes.

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Definitions:

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, a key mechanism of evolution.

Allele Frequencies

The proportion of different variants of a gene (alleles) within a population, which can change over time due to evolutionary pressures.

Gene Flow

The transfer of genetic variation from one population to another, which can increase genetic diversity in the recipient population.

Genetic Drift

A mechanism of evolution that involves random fluctuations in the frequency of alleles within a population across generations.