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Which statement is true about the relationship between a monolopy and its competition in a market?

Which Statement Is True About The Relationship Between A Monolopy And Its Competition In A Market?

Answers

Answer 1

Monopolies and competition are related to one another. The fact that monopolies are created when they buy out their market competitors is the correct way to describe the connection between a monopoly and its competition.

Monopolies are formed when they buy out their competition in a market.

option A

What is a monopoly?

Generally, According to Irving Fisher's definition, a monopoly is a market in which there is "no competition," which results in a circumstance in which one particular person or business is the exclusive provider of a certain product or service.

It is important to keep in mind that single-firm monopolies are very difficult to identify; yet, it is important to investigate and study the monopolist's market behavior and performance in order to assert or set a standard.

The term "monopoly" refers to any commercial firm that has a significant amount of market power.

Simply having the ability to charge excessively high prices, which is associated with a reduction in social surplus, is power.

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Related Questions

How did Japan use enslaved people from territory they conquered during World War II?
O A. To build infrastructure projects
O B. As servants on the home islands
O C. As conscripts in the army
O D. To carry military supplies

Please answer asap :(((

Answers

Answer: I am certain that the answer is C.

Hope this helps!

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