A monopoly power is characterized by ________.
A) a market share of below 20 percent
B) an inability to control prices in the market
C) an ability to exclude all competition from other sellers
D) a presence of multiple substitute goods at competing prices

Question

Quizplus · Accepted Answer

A monopoly power is characterized by the ability to exclude all competition from other sellers, which means it has complete control over the market and can set prices without facing any significant competition.  A market share of below 20 percent would not be sufficient to qualify as a monopoly. An inability to control prices and a presence of multiple substitute goods would also not be characteristic of a monopoly power.

A Monopoly Power Is Characterized by ________