Which of the Following Is a Characteristic of a Monopoly

question 202

Multiple Choice

Which of the following is a characteristic of a monopoly?

• A)It is easy for new firms to enter the market.
• B)There is only one seller in the market.
• C)The product is not unique.
• D)The firm has no control over price.

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Definitions:

Federalists

Supporters of a strong federal government and the ratification of the United States Constitution in the late 18th century.

Whigs

A political party active in the 19th century in the United States, which advocated for federal government support for economic development and opposed Andrew Jackson's policies.

Majority Party

The political party that holds the most seats in a legislative body, giving it the power to control the agenda and make key decisions.

Populist

Relating to or characterized by political approaches that strive to appeal to ordinary people who feel that their concerns are disregarded by established elite groups.