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Which of the following is a source of market power for a monopolist? a. a firm may have a patent or copyright b. a firm may control critical resources c. a firm may have a government-authorized franchise
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Which of the following is a source of market power for a monopolist? a. a firm may have a patent or copyright b. a firm may control critical resources c. a firm may have a government-authorized franchise d. a firm may enjoy economies of scale e. all of the above are sources of market power for a monopolist

User Luca De Feo
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Answer:

The correct option is D

Step-by-step explanation:

Monopolist is a company, individual or a group which controls or regulates all the market for a specific good or service. They have little scope to improve their product as customers will have no alternatives available.

Source of market power they have a copyright or patent, control critical resources, enjoy economies of scale and have the government authorized franchise.

User Nore
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