Which is most characteristic of a pure monopoly?
A) There is a dominant firm in a multifirm industry.
B) The firm produces a good or a service for which there are no close substitutes.
C) The firm has considerable control over the quantity of the output produced,but not over price.
D) Exit from the industry is blocked but entry into the industry is relatively easy.
Correct Answer:
Verified
Q1: Which is a barrier to entry?
A) Close
Q4: Which is an example of a privately
Q5: Which is a barrier to entry?
A) Patents
B)
Q9: Natural monopolies result from:
A) patents.
B) copyrights.
C) control
Q10: One feature of pure monopoly is that
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Q121: Barriers to entry
A) usually result in pure
Q132: A monopoly is most likely to emerge
Q138: One major barrier to entry under pure
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