Introduction to Economics 1 Deneme Sınavı Sorusu #1275592

Which of the followings is among the characteristics of a monopoly?


There are few firms.

There are no barriers to entry to the market.

There are many firms in the market.

There are barriers to entry to the market in considerable number.

Products have no close substitute.


Yanıt Açıklaması:

A monopoly arises when there is only one firm which produces a good or service with no close substitute. Therefore, the correct option is E.

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