No firm is completely sheltered from rivals; all firms compete for consumer dollars. if that is so, then pure monopoly does not exist." a monopoly is more likely to persist if the cross price elasticity of demand is

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Business

Tyrone Hamilton

14 January, 01:17

No firm is completely sheltered from rivals; all firms compete for consumer dollars. if that is so, then pure monopoly does not exist." a monopoly is more likely to persist if the cross price elasticity of demand is

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Daniel · Answer 1

The answer to the given question is "Positive and less than 1".

No firm is completely sheltered from rivals: all firms compete for the consumer dollar. If that is so, then pure monopoly does not exist. "A monopoly is more likely to persist if the cross-price elasticity of demand is Positive and less than 1".