Question : Which one of the following is not a feature of monopoly?
Option 1: Single seller of the product
Option 2: Heavy selling cost
Option 3: Barriers to entry of new firms
Option 4: Price discrimination
Answer (1)
22nd Jan, 2024
Correct Answer: Heavy selling cost
Solution : The correct option is Heavy selling cost .
Some features are:
- Barriers to entry of new firms: Other sellers are unable to enter the market.
- Price discrimination: There should be price discrimination. The monopoly changes the price according to what one needs.
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