A monopoly occurs when
A) each of many firms produces a product that is slightly different from that of the other firms.
B) one firm sells a good that has no close substitutes and a barrier blocks entry for other firms.
C) there are many firms producing the same product.
D) a few firms control the market.
E) one firm is larger than the many other firms that make an identical product.
B
You might also like to view...
If wages and prices adjust slowly, we would expect expansionary monetary policy to be
A) more likely to result in a vertical short-run Phillips curve. B) less likely to reduce the natural unemployment rate. C) more likely to reduce inflation. D) more likely to affect the unemployment rate.
Capital outflows in the balance of payments accounts include
a. purchases of financial assets by U.S. residents. b. direct investments in foreign countries. c. indirect investments in foreign countries. d. purchases of U.S. real estate by foreigners. e. all of the above