Which of the following is a characteristic of a monopoly firm?
A) horizontal individual demand curve
B) barriers to entry
C) easy entry and exit
D) many buyers and sellers

Question

Quizplus · Accepted Answer

A characteristic of a monopoly firm is that it has barriers to entry, which means it has control over the market and can prevent other firms from entering and competing. A horizontal individual demand curve is a characteristic of a perfectly competitive market, and easy entry and exit is a characteristic of a market with many buyers and sellers, also known as a perfectly competitive market.

Which of the Following Is a Characteristic of a Monopoly