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14 February, 11:32

Which of the following is not a characteristic of a monopoly? a. a product without close substitutes b. the seller has market power c. one seller d. free entry and exit

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  1. 14 February, 12:38
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    The correct option is d free entry and exit which is not a characteristic of a monopoly.

    Explanation:

    Monopoly is a market structure which sells a unique product with no close substitutes. Due to which it create a market power in the market.

    In monopoly, there is only a single seller in which a competition is not exist. But there is a barrier in a free entry and exit so that the chances of competition is not there.

    Example - Apple inc, windows, etc.

    So, by above explanation.

    The correct option is d free entry and exit which is not a characteristic of a monopoly.
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