Which of the following is a characteristic of a monopoly market?
A) many suppliers of similar products
B) one single producer
C) easy entry
D) The firm is a price taker.

Name: Which of the following is a characteristic of a monopoly market? A) many suppliers of similar products B) one single producer C) easy entry D) The firm is a price taker.
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Question

Quizplus · Accepted Answer

A monopoly market is characterized by a single producer dominating the industry, leading to a lack of competition.

Which of the Following Is a Characteristic of a Monopoly