Monopolists:
A) enjoy market power for their specific products.
B) have no market power for their specific products.
C) will never experience a loss.
D) always experience economies of scale.
E) exist in all markets.

Question

Quizplus · Accepted Answer

Monopolists are the only suppliers of their specific products or services, giving them market power in the industry. They have the ability to control the price and quantity of the product they offer, and can earn economic profits in the long run.