Which of the following is a barrier to entry for a monopoly? Question 3 options: severe diseconomies of scale a patent close substitutes for the good or service exist All of the above answers are correct.

Which of the following is a barrier to entry for a monopoly? Question 3 options: severe diseconomies of scale a patent close substitutes for the good or service exist All of the above answers are correct.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter9: Monopoly

Section: Chapter Questions

Problem 7SQ

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Question

Which of the following is a barrier to entry for a monopoly?

Question 3 options:

	severe diseconomies of scale
	a patent
	close substitutes for the good or service exist
	All of the above answers are correct.

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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