Firms can have a high degree of monopoly power and not be a perfect monopoly if they:
A)control 80 to 90 percent of the market.
B)are the single producer of a product.
C)have only a small number of competitors.
D)intimidate the other businesses in the market.

Question

Quizplus · Accepted Answer

A firm can have a high degree of monopoly power by controlling a large portion of the market (80 to 90 percent) without being a perfect monopoly, which would require being the sole producer.

Firms Can Have a High Degree of Monopoly Power and Not