Which of the following statements about monopoly is false? A) A singl
Which of the following statements about monopoly is false?
A) A single firm serves the market.
B) There are no close substitutes for the monopolist’s output.
C) There are usually significant barriers to entry.
D) Because there is a single firm serving the entire market, the monopolist can charge whatever price it wants to for its output.
ANSWER
D
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