A monopoly is most likely to emerge in a market when
a. the producers in the market have U-shaped average total cost curves.
b. the price elasticity of demand for the product is high.
c. the cost of entry and exit into the market is low.
d. economies of scale are large relative to market demand.
D
Economics
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Fractional reserve banking originated
A) when the United States Congress passed a law regarding the required reserve ratio. B) when goldsmiths realized they could issue warehouse receipts beyond gold on deposits. C) with the establishment of the Federal Reserve System. D) in the United States with the Clayton Act.
Economics
Currently about what percentage of the civilian labor force is unionized in the United States?
A. 55 percent B. 1 percent C. 12 percent D. 70 percent
Economics