Monopoly is a market in which one firm sells a good or service that has? _____ substitutes and? _____ blocks the entry of new firms.
A. ?close; a barrier
B. ?close; no barrier
C. no? close; no barrier
D. no? close; a barrier
Answer: D. no? close; a barrier
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In the above figure, if the union has Q2 members and wants to ensure that all members have jobs, it will set wage equal to
A) W1. B) W2. C) W3. D) none of the above.
Which factors will cause the consumption function to shift? Which factors do not cause the function to shift?
During which period in history were the largest number of nations using the gold standard as their payments system?
A) from 1870 to 1913 B) from the end of WWI to 1929 C) from 1929 to 1939 D) from 1945 to 1975
Suppose that only one curve shifts. If you observe that the equilibrium price and equilibrium quantity decreased, then the market experienced a(n):
A. decrease in supply. B. increase in demand C. increase in supply. D. decrease in demand.