WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is not a characteristic of a business monopoly?
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Control all of a product’s production
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business competition
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rise prices
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put all competition out of business
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Explanation:
Detailed explanation-1: -Monopolistic competition is a market structure where there are large number of sellers selling differentiated products. There is also no barriers to entry. Every body can fix the price as per their choice. Hence, abnormal profits in the long run is not a characteristic of a monopolistically competitive market.
Detailed explanation-2: -The correct answer is: c. Free entry and exit are not characteristics of a monopoly.
There is 1 question to complete.