Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) A monopoly is characterized by no entry barriers.
B) Perfect competition is characterized by high entry barriers.
C) Firms in a market with entry barriers are likely to have more market power than firms in a market with no entry barriers.
D) Firms in a market with no entry barriers are likely to have more market power than firms in a market with entry barriers.