A monopoly exists when there is only one producer in an industry, and no close substitutes for the product exist

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Which of these curves shows a more unequal distribution of income?

a. Curve A b. Curve B c .Curve C

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Briefly describe the factors that contributed to the U.S. Current Account deficits of the 1990s

What will be an ideal response?

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Is Water a Free Good?

Read the International Food Policy Research Institute's summary of Mark Rosegrant's article on water scarcity. Questions:
  • Is water a free good or a scarce good? Why?
  • Why would a higher price for water reduce the likelihood of a future water shortage?

Economics

Price discrimination adds to social welfare in the form of (i) increased total surplus. (ii) reduced costs of production. (iii) increased consumer surplus

a. (i) only b. (i) and (ii) only c. (i) and (iii) only d. (i), (ii), and (iii)

Economics