Monopolies Arise When There Are

Multiple Choice

Monopolies arise when there are

A) many substitutes but there are no barriers to entry.
B) no close substitutes and there are no barriers to entry.
C) no close substitutes and there are barriers to entry.
D) many substitutes and there barriers to entry.
E) None of the above answers are correct because the existence of a monopoly has nothing to do with the presence or absence of barriers to entry.