A firm typically achieves its position as a monopolist as a result of
A) a small market and a constant average cost.
B) a downward sloping demand for the product.
C) barriers to entry.
D) the absence of long-run profits in an industry.
C
Economics
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The law of supply states that, holding other factors constant, as price increases
a. Quantity supplied increases b. Quantity supplied decreases c. Quantity demanded increases d. Quantity demanded decreases
Economics
The type of regulation that attempts to keep prices and the rate of return in an industry at a competitive level is referred to as
A) cost-of-service regulation. B) rate-of-return regulation. C) service-opportunity regulation. D) natural regulation.
Economics