A Monopoly Is MOST Likely to Be Temporary If the Monopoly

question 12

Multiple Choice

A monopoly is MOST likely to be temporary if the monopoly power is derived from:

• A)high barriers to entry.
• B)a fundamental lack of substitutes for the monopolist's product.
• C)economies of scale.
• D)technological change.

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Definitions:

International Payment Transfers

Financial transactions that involve the sending of money across international borders.

Global Telecommunications

Worldwide infrastructure and services for the exchange of information through electronic networks.

Commercial Letter

A formal document used in business transactions that typically contains specific information and terms regarding a deal or agreement.

Documentary Collection

A process where a seller uses a bank as a medium to collect payment from a buyer when the goods are delivered.