What Must a Firm Have to Maintain a Monopoly

question 38

Multiple Choice

What must a firm have to maintain a monopoly?

• A)a perfectly inelastic demand.
• B)an insurmountable barrier to entry.
• C)marginal revenue equal to demand.
• D)few competitors.

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Definitions:

Supply Chain Profitability

Measures the overall financial gain achieved through the management and operation of a supply chain, from procurement of raw materials to delivery of final products.

Market Segments

Distinct groups of consumers within a market who share similar needs, preferences, or characteristics, which businesses target with specific products or marketing strategies.

Revenue Management Tactic

Strategies used by companies to optimize their financial performance by forecasting demand and adjusting prices or availability accordingly.

Sales Pitch

A persuasive speech that aims to convince the audience to buy a product or service by highlighting its benefits.