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Question

Which of the following is not true

  1. Monopoly form of market organization may be result of increasing returns to scale

  2. Monopoly form of markets organization may be result of patent or government decision

  3. Monopoly form of market organization may be result of control over the supply of raw material

  4. Monopoly form of market organization may be result of control over the demand for raw material

A 1 only Correct Answer Incorrect Answer
B 2 only Correct Answer Incorrect Answer
C 3 only Correct Answer Incorrect Answer
D 4 only Correct Answer Incorrect Answer
E 1 and 3 only Correct Answer Incorrect Answer

Solution

Monopolies can be considered an extreme result of free-market capitalism and are often used to describe an entity that has total or near-total control of a market.

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