Ivan Jewels is an established diamond jeweler. Which of the following statements proves that it is a monopoly?
a. It is the only firm that owns the resources for the production of diamond jewelry

b. It is unable to come up with better technology to compete with other diamond jewelers.
c. It has made way for other firms to enter the industry and earn supernormal profits.
d. Ivan Jewels charges the same price as other diamond jewelers in the market.

a

Economics

You might also like to view...

Food stamps and Medicaid are in-kind transfer programs

a. True b. False Indicate whether the statement is true or false

View
Economics

What is the difference in the price elasticity of demand for alcohol in the short run and in the long run?



a. 1.6
b. 2.7
c. 3.6
d. 4.7

View
Economics