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Question

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

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

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

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