Which of the Following Statements Is True Regarding a Monopoly

question 110

Multiple Choice

Which of the following statements is true regarding a monopoly?

• A)It is enjoyed by an organization who is the sole suppliers of a good or service.
• B)It is common in the telecommunications industry.
• C)It cannot be achieved temporarily, even through the use of patents and similar legal devices.
• D)It is the most common type of competition in the U.S. market.

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Definitions:

Partial Income Statement

A financial document that reports a company's revenues, expenses, and profits over a portion of the fiscal year, rather than the entire year.

Working Capital

The measure of a company's operational liquidity, calculated as current assets minus current liabilities.

Current Assets

Assets that are expected to be converted into cash or used up within one year or the operating cycle, whichever is longer.

Current Liabilities

Short-term financial obligations that are due within one year from the balance sheet date or within the entity's normal operating cycle if longer.