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:

Ad

Short for advertisement, a promotional message or material designed to attract interest in a product, service, or event.

Permanent Change

A lasting transformation that alters the state or condition of something or someone in a significant way.

Learning

The acquisition of knowledge or skills through study, experience, or teaching, which leads to a change in behavior or understanding.

Behaviour

The actions or reactions of individuals, in response to external or internal stimuli, often observed and studied in psychology and sociology.