What is a pure monopoly?
What will be an ideal response?
A pure monopoly is an industry with a single firm that produces a product for which there are no close substitutes and in which significant barriers to entry prevent other firms from entering the industry to compete for profits.
Economics
You might also like to view...
When using real GDP per capita to measure the standard of living, it is difficult to capture the value of
a. education b. leisure time c. clean environment d. how income is distributed e. all of the above
Economics
Stabilizing the economy by fiscal policy need not imply a tendency toward “big government.”
Answer the following statement true (T) or false (F)
Economics