Given that a monopoly market structure consists of only one firm, then the market demand curve is the firm's demand curve and there is easy entry over the long run.

Question

Quizplus · Accepted Answer

In a monopoly market structure, there are high barriers to entry, making it difficult for new firms to enter the market. Additionally, the firm has the ability to control prices and output, so the market demand curve is not the same as the firm's demand curve.

Given That a Monopoly Market Structure Consists of Only One