What Is a Characteristic of a Monopoly Industry

question 208

Multiple Choice

What is a characteristic of a monopoly industry?

• A) easy entry and exit
• B) barriers to entry
• C) a vertical firm demand curve
• D) many buyers and sellers

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Definitions:

Government Purchases

Expenditures by the government on goods and services that are included in the calculation of the country's GDP.

Aggregate Demand

The total demand for all goods and services within an economy at various price levels, in a given period.

Multiplier

In economics, a factor that quantifies the impact of a change in spending on the overall economy, frequently used in the context of fiscal policy.

Consumer Spending

The total expenditures by households on goods and services, excluding new housing, which drives a significant portion of economic activity.