Monopoly is market structure

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Reference no: EM132540250

True False

1. A monopoly is a market structure in which there is only one seller of a unique product.

2. Although not all companies are monopolies, many possess monopoly power to some degree in the market because of the nature of their products.

3. The pricing and output decisions of monopolists are the same as those of a competitive company.

4. Antitrust laws are designed to prevent companies from using their market power against consumers and other companies.

5. Larger companies enjoy economies of scale, achieving higher unit costs and a higher per-unit price.

Reference no: EM132540250

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