Multiple Choice
Which of the following is NOT a necessary characteristic of monopolies?
A) Prices are set by the seller,not the consumer.
B) There is just one firm in the role of seller.
C) The market is for a unique product without close substitutes.
D) Government plays a role in maintaining barriers to entry.
E) The seller has a high level of market power.
Correct Answer:
Verified
Correct Answer:
Verified
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