The Source(s) of Monopoly Power for a Monopoly May Be

question 85

Multiple Choice

The source(s) of monopoly power for a monopoly may be:

• A)economies of scale.
• B)economies of scope.
• C)patents.
• D)all of the statements associated with this question are correct.

---

Definitions:

Factors Of Production

The four economic resources: land, labor, capital, and entrepreneurial ability.

Economic Systems

The structure and methods by which a society allocates resources and distributes goods and services among its population.

Business Risk

The potential for financial loss or failure in the operation of a company due to factors like market conditions, regulatory changes, or operational challenges.

Market System

An economic model where investment, production, and distribution decisions are influenced by supply and demand, with the prices of goods and services being set in a free pricing system.