Which of the Following Is a Characteristic of a Monopoly

question 57

Multiple Choice

Which of the following is a characteristic of a monopoly but not a characteristic of a competitive market?

• A) A monopoly contains many firms.
• B) A monopoly produces an efficient level of output.
• C) A producer in a monopoly may earn long-run economic profits.
• D) A producer in a monopoly has no market power.
• E) A producer in a monopoly is a price taker.

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