Which of the following is not a reason for the existence of a monopoly? Select one: a. Sole ownership of key resource. b. Patents. c. Copyrights d. Legal restrictions. e. Ensuring fairness among consumer

Which of the following is not a reason for the existence of a monopoly? Select one: a. Sole ownership of key resource. b. Patents. c. Copyrights d. Legal restrictions. e. Ensuring fairness among consumer

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter13: Monopoly And Antitrust

Section: Chapter Questions

Problem 1P

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Question

Which of the following is not a reason for the existence of a monopoly?

Select one:

a. Sole ownership of key resource.

b. Patents.

c. Copyrights

d. Legal restrictions.

e. Ensuring fairness among consumers

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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