Which of the Following Is a Characteristic of a Monopoly

question 129

Multiple Choice

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

• A) A monopoly contains many firms.
• B) price > marginal cost
• C) price < marginal cost
• D) price = marginal cost
• E) A firm in a monopoly is a price taker.

---

Definitions:

Premise

An assertion or statement that forms the basis for a conclusion in an argument.

Conclusion

The final part of something, such as an argument or text, summarizing the main points or deduced results.

Assumption

A thing that is accepted as true or as certain to happen, without proof.

Justification

A reason or argument that explains why a particular action, belief, or statement is reasonable or necessary.