Which of the following is not associated with the monopoly market structure?
a. Many sellers.
b. A single seller.
c. A unique product.
d. Impossible entry into the market.
Question 2
As a general rule, marginal utility will be less:
a. as less of the good is consumed.
b. as more of the good is consumed.
c. when average utility is at a maximum.
d. only when the good is inferior.
e. when satisfaction is less than cost.
