Which of the Following Is NOT a Necessary Characteristic of Monopolies

question 119

Multiple Choice

Which of the following is NOT a necessary characteristic of monopolies?

• A) Prices are set by the seller,not the consumer.
• B) There is just one firm in the role of seller.
• C) The market is for a unique product without close substitutes.
• D) Government plays a role in maintaining barriers to entry.
• E) The seller has a high level of market power.

---

Definitions:

Alternative Solutions

Different methods or strategies that can be employed to achieve a goal, especially when dealing with a problem or challenge.

Problem

A situation, question, or issue that is difficult to deal with or understand, requiring a solution or answer.

Data

Quantitative or qualitative values that represent information or variables, often used for analysis or decision-making.

Specific Organization

A particular or distinct institution, corporation, or group organized for a certain purpose or activity.