The Fundamental Source of Monopoly Power Is

question 80

Multiple Choice

The fundamental source of monopoly power is

• A)barriers to entry.
• B)profit.
• C)decreasing average total cost.
• D)a product without close substitutes.

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Win

To achieve victory in a contest or competition.

Fair

An event or situation characterized by justice, equality, and impartiality, or an adjective describing such qualities.

Expect

To anticipate or regard as likely to happen in the future.

Random Variable

A variable whose values depend on outcomes of a random phenomenon, often used in probability and statistics.