Which of the following is/are the characteristic of a monopoly market structure?a. None of theseO b. Product differentiationO c.No barrier on exit and entryO d. Price maker

There are four main types of market structures in an economy: perfect competition, monopoly,…

Answered: Which of the following is/are the…

Which of the following is/are the characteristic of a monopoly market structure? O a. None of these O b. Product differentiation О с. No barrier on exit and entry O d. Price maker

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter13: Monopoly And Antitrust

Section: Chapter Questions

Problem 11P

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Concept explainers

Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.

Question

Which of the following is/are the characteristic of a monopoly market structure?
a. None of these
O b. Product differentiation
O c.
No barrier on exit and entry
O d. Price maker

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