Which of the Following Is a Similarity Between a Monopoly

question 259

Multiple Choice

Which of the following is a similarity between a monopoly and an oligopoly with differentiated products?

• A) There are no barriers to entry in both markets.
• B) The long-run equilibrium price in both markets exceeds marginal cost.
• C) There is a single seller in both markets.
• D) Firms in both the markets earn zero profit in the long run.

---

Definitions:

The Mean

In philosophy, particularly Aristotelian ethics, it refers to the desirable middle ground or moderation between two extremes.

Courage

The ability to do something that frightens one or the strength in the face of pain or grief.

Practical Wisdom

The ability to make the right decisions in everyday life by applying moral values and rational thought.

Fundamental Principles

The basic or core ideas, values, or laws that form the foundation for a system or theory.