Which of the Following Statements Concerning Monopoly Is NOT True

question 4

Multiple Choice

Which of the following statements concerning monopoly is NOT true?

• A) A market may be monopolistic because there are some legal barriers.
• B) A monopoly has market power.
• C) A monopoly is always undesirable.
• D) There is some deadweight loss in a monopolistic market.

---

Definitions:

Demand and Supply

Demand and Supply are fundamental economic concepts representing the desire and ability to purchase goods and services and the amount of goods and services available for sale, respectively.

Market Supply

The total of what all producers are willing and able to sell at a given price over a specified time period.

Quantities Supplied

The amounts of a good or service that producers are willing and able to sell at various prices during a specified time period.

Quantity Supplied

In economic terminology, it refers to the amount of a good or service that producers are willing and able to sell at a given price over a specific period of time.