question archive Which of the following is not a necessary characteristic of monopolies? (a) prices are sets by the seller not the consumer (b) there is just one firm in the role of seller (c) the market is for unique product without close substitute (d) government plays a role in maintaining barriers to entry (e) the seller has a high level of market power
Which of the following is not a necessary characteristic of monopolies? (a) prices are sets by the seller not the consumer (b) there is just one firm in the role of seller (c) the market is for unique product without close substitute (d) government plays a role in maintaining barriers to entry (e) the seller has a high level of market power
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Which of the following is not a necessary characteristic of monopolies?
(a) prices are sets by the seller not the consumer
(b) there is just one firm in the role of seller
(c) the market is for unique product without close substitute
(d) government plays a role in maintaining barriers to entry
(e) the seller has a high level of market power
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(d) government plays a role in maintaining barriers to entry
In a monopoly market structure, firms are often protected with some barriers that restrict new entrants to get into the market. These barriers also could be natural barriers that are often created by nature.
