44. Which of the following statements about a monopoly is FALSE? a. A monopoly has many suppliers of the good. b. None of these c. Monopolies have barriers to entry or exit. d. The good produced by a monopoly has no close substitutes.

44. Which of the following statements about a monopoly is FALSE? a. A monopoly has many suppliers of the good. b. None of these c. Monopolies have barriers to entry or exit. d. The good produced by a monopoly has no close substitutes.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter25: Monopoly

Section: Chapter Questions

Problem 6E

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Question

44. Which of the following statements about a monopoly is FALSE?

A monopoly has many suppliers of the good.

None of these

Monopolies have barriers to entry or exit.

The good produced by a monopoly has no close substitutes.

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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