45. A monopoly can be temporary because of: A) high barriers to entry. B) privil

Question

45. A monopoly can be temporary because of:
A) high barriers to entry.
B) privileges granted by the government.
C) economies of scale.
D) economic profits, which attract rivals.

46. Which of the following is (are) true?
A) Firms constantly seek out the market power that monopoly offers.
B) Economic profits invite continuing attempts to break down the economic barriers that a monopoly may have.
C) Technological change and the pursuit of profit work against the entrenched power of monopolies.
D) All of the above are true.

47. Situations in which the more users of a product there are, the more useful the product becomes are called:
A) network effects.
B) monopolies.
C) conglomerates.
D) exclusive franchises

Explanation / Answer

C) economies of scale.

C) Technological change and the pursuit of profit work against the entrenched power of monopolies.

B) monopolies.

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