A Monopoly Occurs When

question 281

Multiple Choice

A monopoly occurs when

• A) each of many firms produces a product that is slightly different from that of the other firms.
• B) one firm sells a good that has no close substitutes and a barrier blocks entry for other firms.
• C) there are many firms producing the same product.
• D) a few firms control the market.
• E) one firm is larger than the many other firms that make an identical product.

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