Monopolies Are Characterized by All of the Following,except One

question 172

Multiple Choice

Monopolies are characterized by all of the following,except one.Which is the exception?

• A)a downward-sloping demand curve
• B)potential for long-run profits
• C)a perfectly elastic demand curve
• D)barriers to entry
• E)no close substitutes for the good produced

---

Definitions:

Catgut

A type of cord traditionally made from the natural fibers found in the intestines of animals, commonly used for musical instrument strings and surgical sutures.

Optimal Amount

The best or most efficient level of output or consumption that maximizes desired outcomes or minimizes costs.

R&D

Research and Development, referring to activities in connection with corporate or governmental innovation.

Interest-rate Cost

The expense incurred from borrowing money, typically expressed as a percentage of the principal amount.