Which of the Following Are Necessary Characteristics of a Monopoly

question 440

Multiple Choice

Which of the following are necessary characteristics of a monopoly?

• A) (i) and (ii) only
• B) (i) and (iii) only
• C) (i), (ii), and (iii) only
• D) (i), (ii), (iii), and (iv)

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Definitions:

Higher Inflation

An economic condition characterized by a significant and rapid increase in the general price level of goods and services in an economy over a period of time.

Tax Cuts

Reductions in the amount of taxes imposed by the government on individuals or businesses.

Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a specific time period.

Fiscal Programs

Government initiatives that involve expenditure and taxation decisions to influence the national economy.