Which of the following is a characteristics of monopoly?
Many sellers
Homogenous commodity
A single seller
Perfect knowledge
Correct answer is C
No explanation has been provided for this answer.
Natural barriers to entry
Legal barriers to entry
Illegal barriers to entry
Unnatural barriers to entry
Correct answer is B
No explanation has been provided for this answer.
Consumers increasing their demand for the product
Consumer's demand for the product remaining unchanged
Consumers shifting completely to substitute products
Suppliers increasing the supply of the product
Correct answer is C
No explanation has been provided for this answer.
Inferior goods
Substitutes
Complements
Free goods
Correct answer is B
No explanation has been provided for this answer.
12 bags
24 bags
28 bags
30 bags
Correct answer is C
Q - 36 + 0.4P = 0
Q = 36 - 0.4(20)
36 - 8 = 28