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Which of the following could explain why a firm is a monopoly? Select one or more answers

 Which of the following could explain why a firm is a monopoly? Select one or more answers from the choices shown.

a. Patents

b. Economies of scale.

c. Inelastic demand.

d. Government licenses.

e. Downsloping market demand.

2. The MR curve of perfectly competitive firm is horizontal.  The MR curve of monopoly firm is:

a. Horizontal, too.

b. Upsloping.

c. Downsloping.

d. It depends.

Dec 05 2019 View more View Less

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