A Monopoly Is a Firm That Is the Only Seller

question 151

Multiple Choice

A monopoly is a firm that is the only seller of a good or service that does not have

• A)a patent.
• B)a close complement.
• C)a barrier to entry.
• D)a close substitute.

---

Definitions:

Epigenetics

The study of heritable changes in gene expression that do not involve changes to the underlying DNA sequence, affecting how genes are turned on or off.

Development

The process of growth and change that a person undergoes, which can be physical, cognitive, or emotional in nature.

Genetics

The branch of biology concerned with the study of genes, genetic variation, and heredity in organisms.

Environment

The surrounding conditions and factors that affect the living and non-living elements of an organism's or community's existence.