Which of the following statements about a monopoly is FALSE? ...

[tichca]

Which of the following statements about a monopoly is FALSE?
 
  A) Monopolies have no barriers to entry or exit.
  B) The good produced by a monopoly has no close substitutes.
  C) A monopoly is the only producer of the good.
  D) None of the above; that is, all of the above answers are true statements about a monopoly.

Question 2

In developing countries, there is more reliance on ________ as opposed to ________ for government revenue.
 
  A) tariffs; tax collection
  B) quotas; tariffs
  C) tax collection; tariffs
  D) tariffs; quotas

[janieazgirl]

Answer to Question 1

A

Answer to Question 2

A