question archive Which of the following is not a necessary characteristic of monopolies? a) prices are set by the seller not the consumer

Which of the following is not a necessary characteristic of monopolies? a) prices are set by the seller not the consumer

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Which of the following is not a necessary characteristic of monopolies?

a) prices are set by the seller not the consumer.

b) there is just one firm in the role of seller.

c) the market is for a unique product without a close substitute.

d) the government plays a role in maintaining barriers to entry.

e) the seller has a high level of market power.

Option 1

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Option 2

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