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.

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Definitions:

Oxygen-Transporting Pigment

Molecules, such as hemoglobin in vertebrates, responsible for carrying oxygen from the respiratory organs to the rest of the body.

Hemocyanin

A copper-containing oxygen-transport protein found in the blood of some invertebrates, similar in function to hemoglobin in vertebrates.

Hemoglobin

A molecule found in red blood cells responsible for transporting oxygen from the lungs to the tissues of the body and bringing carbon dioxide back from the tissues to the lungs.

Hemolymph

A fluid equivalent to blood in most invertebrates, occupying the hemocoel and performing similar functions such as nutrient transport and waste removal.