Which statement is true? a) All monopolists products have close substitutes. b) Most fi rms in the
Question:
Which statement is true?
a) All monopolists’ products have close substitutes.
b) Most fi rms in the United States are monopolies.
c) There are no monopolies in the United States.
d) A monopoly is a firm that produces all the output in an industry.
e) None of the above.
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The correct answer is d A monopoly is a firm that produces all the output in an industry Heres why t...View the full answer
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