Which of the Following Is Characteristic of a Monopoly

question 53

Multiple Choice

Which of the following is characteristic of a monopoly?

• A)The absence of political power
• B)Close substitute products
• C)The ability to make an economic profit in the long run
• D)Operating at peak efficiency

---

Definitions:

Workforce Diversity

Refers to the inclusion of individuals with a wide range of characteristics and experiences, such as cultural background, gender, age, and abilities, within a company's employees.

Flexibility And Accommodation

The ability and willingness to adjust or make concessions to meet others' needs or to adapt to changing circumstances.

Self-Managed Teams

Groups of employees who operate without a traditional managerial hierarchy, collectively assuming responsibility for their work and decision-making.

Full Potential

The highest level of performance or achievement one can attain, often realized through the full utilization of one's skills and talents.