Monopoly as a Market Structure Leads to

question 160

Multiple Choice

Monopoly as a market structure leads to

• A)prices equal to average cost.
• B)quick response to economic change.
• C)prices that equal minimum long-run average cost.
• D)persistent economic profits.

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Definitions:

Competitor

An entity that is in the same industry or market and vies for the same customers or resources.

Capital-Intensive

Describing industries or businesses that require a significant amount of capital investment to produce goods or services.