Ask Question
5 May, 17:02

Which of the following is not a characteristic of a monopoly? a. a product without close substitutes b. the seller has market power c. one seller d. free entry and exit

+3
Answers (1)
  1. 5 May, 19:27
    0
    The correct option is d free entry and exit which is not a characteristic of a monopoly.

    Explanation:

    Monopoly is a market structure which sells a unique product with no close substitutes. Due to which it create a market power in the market.

    In monopoly, there is only a single seller in which a competition is not exist. But there is a barrier in a free entry and exit so that the chances of competition is not there.

    Example - Apple inc, windows, etc.

    So, by above explanation.

    The correct option is d free entry and exit which is not a characteristic of a monopoly.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following is not a characteristic of a monopoly? a. a product without close substitutes b. the seller has market power c. one ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers