Exam (elaborations)
AP Microeconomics: Unit 4 questions with correct answers
- Module
- Institution
5 Characteristics of a Monopoly CORRECT ANSWER 1) Single Seller 2) Unique good with no close substitute 3) "Price Maker" 4) High Barriers to Entry 5) Some "Nonprice" Competition Single Seller (1) CORRECT ANSWER -one firm controls the vast majority of a market -firm=industry "Price Maker"...
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