Which of the following explains why monopoly is uncommon in the real world?
A) firms usually face downward-sloping demand curves.
B) supply curves slope upward.
C) price is usually set equal to marginal cost by firms.
D) there are reasonable substitutes for most goods.

Question

Quizplus · Accepted Answer

Monopolies are uncommon because there are usually reasonable substitutes for most goods, which prevents a single firm from dominating the market.

Which of the Following Explains Why Monopoly Is Uncommon in the Real