Under monopoly, there are:
A) unexploited gains from trade.
B) many competitors.
C) the advantages of heterogeneous products.
D) problems of easy entry.

Question

Quizplus · Accepted Answer

Under monopoly, there is only one seller in the market, which means that there are potential gains from trade that are not being exploited due to the lack of competition. The monopolist has the power to restrict output and charge a higher price than under perfect competition, resulting in inefficiency in the market.

Under Monopoly, There Are