A Monopoly Is an Industry Structure Characterized By

question 108

Multiple Choice

A monopoly is an industry structure characterized by:

• A)a single buyer and several sellers.
• B)a product with many close substitutes.
• C)a large number of small firms.
• D)barriers to entry and exit.

---

Definitions:

Euphemism

The use of mild or indirect words or expressions to describe something that is considered harsh, blunt, or unpleasant.

Ethnicity

A social construct that groups people based on common cultural, ancestral, or national characteristics.

Transgender

Referring to individuals whose gender identity or expression differs from the sex they were assigned at birth.

Social Norms

Unwritten rules and expectations about how to behave in society, guiding behaviors and actions within specific contexts.