Which of the Following Are Necessary Characteristics of a Monopoly

Multiple Choice

Which of the following are necessary characteristics of a monopoly? (i)
The firm is the sole seller of its product.
(ii)
The firm's product does not have close substitutes.
(iii)
The firm generates a large economic profit.
(iv)
The firm is located in a small geographic market.

A) (i) and (ii) only
B) (i) and (iii) only
C) (i) , (ii) , and (iii) only
D) (i) , (ii) , (iii) , and (iv)