Question

Which of the following is NOT the feature of monopoly form of market?

• A. Not elastic in nature
• B. Legal barriers
• C. Size of the market is too small
• D. All of the above

Answer 1

The correct option is A Not elastic in nature

solution:

The relationship among price elasticity, demand, and total revenue has an important implication for the selection of the profit-maximizing price and output: A monopoly firm will never choose a price and output in the inelastic range of the demand curve.

option 2. Key Takeaways. Legal monopolies are companies that operate as a monopoly under a government mandate. Legal monopolies are created for the purposes that offer a specific product or service to consumers, at a regulated price.

hence the correct option: A