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Monopoly Market

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  • 1. Multiple Choice
    30 seconds
    1 pt

    monopoly has two key features, which are

    barriers to entry and no close substitutes.

    franchises and barriers to entry.

    barriers to entry and close substitutes.

    close substitutes and no barriers to entry.

  • 2. Multiple Choice
    30 seconds
    1 pt

    An example of a monopoly is

    a big city restaurant.

    the stock market.

    the only veterinarian in an isolated farm community.

    PPUM

  • 3. Multiple Choice
    30 seconds
    1 pt

    A single-price monopoly is characterized by a marginal revenue curve that is

    upward sloping.

    downward sloping.

    horizontal.

    vertical.

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