MCQOPTIONS
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MCQOPTIONS
| 1. |
Which of the following statements about a monopoly is FALSE? |
| A. | A monopoly is the only supplier of the good. |
| B. | Monopolies have no barriers to entry or exit. |
| C. | The good produced by a monopoly has no close substitutes. |
| D. | None of the above; that is, all of the above answers are true statements about a monopoly. |
| Answer» C. The good produced by a monopoly has no close substitutes. | |