The fundamental source of monopoly power is
A)many buyers and sellers.
B)low fixed costs.
C)rising average total costs.
D)barriers to entry.

Question

Quizplus · Accepted Answer

Barriers to entry, such as patents, economies of scale, control of essential resources, or government regulations, prevent new firms from entering the market and competing with established firms. This lack of competition allows monopolies to have control over price and output, which leads to greater profits and market power.

The Fundamental Source of Monopoly Power Is