Which of the following is not a characteristic of a monopoly?
A. There is only one seller.
B. A monopolist is a price-taker.
C. There exist barriers to entry.
D. A monopolist ' s sales revenue is constrained by the market demand.
Answer:B
Which of the following is not a characteristic of a monopoly?
A. There is only one seller. B. A monopolist is a price-taker. C. There exist barriers to entry. D. A monopolist ' s sales revenue is constrained by the market demand.