The fundamental source of monopoly power is
A)barriers to entry.
B)profit.
C)increasing average total cost.
D)a product without close substitutes.

Name: The fundamental source of monopoly power is A)barriers to entry. B)profit. C)increasing average total cost. D)a product without close substitutes.
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Question

Quizplus · Accepted Answer

Barriers to entry are the fundamental source of monopoly power because they prevent new firms from entering the market and competing with the existing monopolist.

The Fundamental Source of Monopoly Power Is