Question

Which of the following is not a feature of monopoly?
(A)
Firm is price-maker
(B)
One buyer and many sellers
(C)
Lack.of close substitutes
(D) Restrictions on entry of new firms​

Answer 1

Answer:

C is the correct answer hope it helps you good night sweet dreams

Answer 2

One buyer and many sellers (B) - This is not a feature of monopoly.

• In Monopoly market form, there is only one seller (Single producer of a commodity) and large number of buyers.
• This situation gives the seller full control over the market and price of the commodity. Hence, the Monopolist is also known as the price maker.

Definition - Monopoly is a form of market where,

• A single producer is the price maker.
• There are restrictions on entry of a new firm.
• There are no close substitutes.
• A monopolist can even practice price discrimination.