Which of the Following Is a Characteristic of a Monopoly

question 576

Multiple Choice

Which of the following is a characteristic of a monopoly?

• A)low fixed costs as a portion of total costs
• B)free entry and exit
• C)barriers to entry
• D)declining marginal cost

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Definitions:

Statement of Income

A financial report summarizing the revenues, expenses, and profits/losses of a company over a specified period, also known as an income statement.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made, used to prepare financial statements.

Accrued Salaries

Salaries that have been earned by employees but have not yet been paid by the company, often recorded as a liability on the balance sheet.

Services Paid

Expenses related to services that have been paid for by a company or individual.