For a true, or pure, monopoly, a. there is only one seller of the product. b. no
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For a true, or pure, monopoly,
a. there is only one seller of the product.
b. no close substitutes are available.
c. the firm and the industry are the same.
d. it must be virtually impossible for other firms to overcome barriers to entry.
e. all of the above are true.
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