Respuesta :
The correct answer to the given option C) To sustain its monopoly, a company needs some sort of government privilege or restriction.
Different Monopolies
The Original Monopoly
A single vendor is seen as having a pure monopoly in a market or industry with significant entrance obstacles, such as high starting costs, and no rivals.
Microsoft Corporation was the first company to hold a total monopoly on personal computer operating systems. As of 2022, its desktop Windows software still held a 75% market share.
Monopolistic competition
In a specific industry segment, monopolistic competition is defined as the existence of several sellers with equivalent substitutes. Entry hurdles are low, and rival companies set themselves apart through pricing and marketing strategies.
Their goods are inferior to the best competition, like Visa and MasterCard. Other examples of monopolistic competition are retail businesses, restaurants, and hair salons.
Question
Which one of the following about a monopoly is false?
A) A monopoly could break even in the long run.
B) A monopoly could make profits in the long run.
C) A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly.
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