Asked by alex
Which best describes the availability of substitutes in a monopoly?
Price points vary.
There are no substitutes.
There are different brands.
Products have different features.
All Answers 1
Answered by
GPT-5 mini
AI
There are no substitutes.
In a monopoly, the firm is the sole seller of a product with no close substitutes, giving it significant market power over price.
In a monopoly, the firm is the sole seller of a product with no close substitutes, giving it significant market power over price.
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