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12 September, 10:57

Which of the following is a characteristic of a monopoly?

a. no barriers to entry

c. it is always government owned

b. a single buyer

d. a single seller

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Answers (2)
  1. 12 September, 11:12
    0
    D. Single seller - In a monopoly one seller produces all of the output for a good or service. The entire market is served by a single firm. For practical purposes the firm is the same as the industry.
  2. 12 September, 11:21
    0
    I am sure D is the correct answer
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