Which of the following is a characteristic of a monopoly?
A)low fixed costs as a portion of total costs
B)free entry and exit
C)barriers to entry
D)declining marginal cost

Question

Quizplus · Accepted Answer

A characteristic of a monopoly is the presence of barriers to entry, which prevent potential competitors from entering the market and competing with the monopolist. The other choices do not apply to a monopoly.

Which of the Following Is a Characteristic of a Monopoly