This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is a characteristic of a monopoly? A) Many similar firms compete in the ... (Read 71 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Jul 6, 2018
Which of the following is a characteristic of a monopoly?
 
  A) Many similar firms compete in the same market.
  B) Each firm sells a small percentage of the total sold in the market.
  C) The market is flooded with companies that sell essentially the same commodity-like product.
  D) Companies that dominate the market can set the price by controlling the quantity produced.
  E) Customers have many substitutes available and are therefore responsive to changes in price.

Question 2

________ refers to a market in which a single company dominates the market or has dominant pricing power.
 
  A) Perfect competition
  B) Monopoly
  C) Duopoly
  D) Oligopsony
  E) Oligopoly


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dyrone

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 6, 2018
Answer to Question 1

D

Answer to Question 2

B


clippers!

  • Member
  • Posts: 828
Reply 2 on: Jul 6, 2018
Wow, this really help

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Territorial reef fish compete intensely for space. Territorial reef fish compete intensely for space.
Young boy with characteristic nasal crease from the repeated action of the “nasal salute” caused ... Young boy with characteristic nasal crease from the repeated action of the “nasal salute” caused ...
Conjunctivitis, with the characteristic “pinkeye” appearance. A yellow crusty exudate is also common Conjunctivitis, with the characteristic “pinkeye” appearance. A yellow crusty exudate is also common
In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ... In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ...
Child's right hand and wrist displaying the characteristic spotted rash of Rocky Mountain ... Child's right hand and wrist displaying the characteristic spotted rash of Rocky Mountain ...
A graphic depiction of predisposing alleles characteristic of a threshold trait within a population, A graphic depiction of predisposing alleles characteristic of a threshold trait within a population,
Video: Renal Failure

For a complete list of videos, visit our video library