What Must a Firm Have to Maintain a Monopoly

question 107

Multiple Choice

What must a firm have to maintain a monopoly?

• A) A perfectly inelastic demand
• B) An insurmountable barrier to entry
• C) Marginal revenue equal to demand
• D) Few competitors

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Definitions:

Endogenous

Originating from within an organism, tissue, or cell, used to describe processes or substances that are internally generated.

Naturally Occurring

Referring to substances, phenomena, or processes that exist or happen without human intervention.

Polarized

A term indicating something is divided into two sharply contrasting groups or sets of opinions or beliefs.

Transmitter Substances

are chemical substances, such as neurotransmitters, that transmit nerve impulses across synapses between nerves or from nerves to muscles or organs.