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23 February, 04:20

What are the principal conditions that allow monopolies to exist?

A. Licenses

B. Barriers to entry

C. Technologies

D. Price discrimination

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Answers (2)
  1. 23 February, 05:13
    0
    B: Barriers to entry.

    Barriers to entry prevent other firms from joining the market.
  2. 23 February, 05:16
    0
    Answer: B: Barriers to entry

    Barriers to entry are the principal conditions that allow monopolies to exist.

    Explanation:

    A monopoly refers to an industry or a market where there is a single seller selling a special or unique product. The seller is the sole seller of a product with no close substitute and as such the seller does not face competition. The monopolist decides the price in the market and maintains super normal profit in the long.
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