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2.3.4 Quiz: Market Structures

Question 5 of 10

A monopoly has an advantage over pure competition when it comes to:

O A. encouraging competition between firms.

• B. reducing prices on consumer products.

• C. producing a variety of different goods.

O D. taking advantage of economies of scale.

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Answer

D. taking advantage of economies of scale.

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A monopoly is a market structure where there is only one seller of a particular product or service. This gives the monopoly an advantage over pure competition in...