There Is No Exact Definition of a Monopoly, but in General

question 222

Multiple Choice

There is no exact definition of a monopoly, but in general a monopoly:

• A) exists when one or a few firms dominate the sales of a product or service
• B) one firm makes a better product than others in the same market
• C) consumers prefer one firm over all others
• D) one firm has more than 30% of the market share for a certain product
• E) a firm does not have to pay any federal taxes

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