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Which of the following is NOT a necessary characteristic of monopolies? a.Prices are set by the seller, not the consumer. b.There is just one firm

Which of the following is NOT a necessary characteristic of monopolies?

a.Prices are set by the seller, not the consumer.

b.There is just one firm in the role of seller.

c.The seller has a high level of market power.

d.The market is for a unique product without close substitutes.

e.Government plays a role in maintaining barriers to entry.

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