A monopoly is a market with
A) many suppliers each producing an identical product.
B) no barriers to entry.
C) many substitutes.
D) one supplier.
E) many suppliers each producing a slightly different product.
D
Economics
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The hedonic price method
a. is a direct method of estimating benefit b. relies on the theory that goods are valued for their attributes c. is a physical linkage approach d. is useful but not intuitive
Economics
In Figure 9.9, at a full-employment output level of $150 billion, the gap by which actual aggregate income or GDP is different from full-employment income or GDP is
A. An inflationary gap of $25 billion income. B. An inflationary gap of $50 billion income. C. A recessionary gap of $50 billion income. D. Expenditure equilibrium.
Economics