Identify a Feature of a Monopoly

question 54

Multiple Choice

Identify a feature of a monopoly.

• A)It is a market of one highly dominant firm.
• B)It is typically a market of 2 to 5 firms.
• C)It is a market of up to 8 or 10 firms.
• D)It is a market with hundreds of firms.

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Definitions:

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Child-Rearing Style

Describes the strategies, techniques, and approaches parents use to raise their children, including aspects like discipline, communication, nurturing, and expectations.

Cultural Norms

Norms whose origin is part of the tradition of a culture.

Papua New Guinea

Papua New Guinea is a country in Oceania, occupying the eastern half of the island of New Guinea and numerous offshore islands, known for its diverse cultures and languages.