If the Demand for a Good Increases in a Monopoly

question 73

True/False

If the demand for a good increases in a monopoly market,price will rise and firms will enter the industry in the long run

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Definitions:

Franchisor

A business that allows individuals or other companies to operate and sell its products or services under its brand and business model.

Franchising

A method of business expansion where a franchisor licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee.

Business Models

Frameworks or plans that outline how a company creates, delivers, and captures value in economic, social, cultural, or other contexts.