question archive One of the sources of monopoly power for a monopoly may be: a) diseconomies of scale
One of the sources of monopoly power for a monopoly may be: a) diseconomies of scale
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One of the sources of monopoly power for a monopoly may be:
a) diseconomies of scale.
b) homogenous (i.e., identical or commoditized) products.
c) patents.
d) free entry and exit.
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The answer is c).
The possible sources of monopoly power could be (1) barriers to entry; (2) economies of scale; (3) differentiated varieties; (4) patents that grant exclusive access to a market.
