A pure monopoly is a relatively rare market structure where one company is the single source for a product and there are no close alternatives for that product available elsewhere. What do you know about how pure monopolies work?
A board game.
An movie about economy.
When a company holds such a dominance in a market that no effective competition can take place.
All of the above.
Only one firm in the market (no competition).
Significant barriers to entry by other firms exist.
Lack of substitute goos for the monopolist's good.
Firm is a price-maker.
All of the above.
Someone looses a game.
When two people fight over an item in a store.
Another market competes to sell the same items as you, but can't compete.
All of the above.
True
False
True
False