Which of the following may characterize a monopoly?
A. Low barriers to entry.
B. Substantial market power.
C. Many firms.
D. Differentiated product.
Answer: B
Economics
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Which of the following pairs of market types are both characterized by having a large number of firms?
A) monopoly and oligopoly B) monopoly and monopolistic competition C) perfect competition and oligopoly D) perfect competition and monopolistic competition
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Most recessions last approximately three years
a. True b. False
Economics