All these are characteristics of a monopoly except,
A)There is one seller of the product
B)Has few substitutes
C)Controls a large share of the market
D)Controls a small share of the market

Question

​All these are characteristics of a monopoly except,
A)​There is one seller of the product
B)Has few substitutes
C)Controls a large share of the market
D)​Controls a small share of the market

Quizplus · Accepted Answer

A monopoly is characterized by having only one seller of the product, having few substitutes, and controlling a large share of the market. Therefore, option D is not a characteristic of a monopoly, as it contradicts the definition of a monopoly. A monopoly controlling a small share of the market could lead to new firms entering the market, and thus, the market becoming more competitive.

​All These Are Characteristics of a Monopoly Except

All These Are Characteristics of a Monopoly Except