The answer is D. Differential products.

Here's why:

A monopoly is a market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

A. Homogeneous products: This is incorrect because homogeneous products are typically associated with perfect competition, where all firms offer identical products.

B. Substitutes: This is incorrect because in a monopoly, there are no close substitutes for the monopolist's product. This is one of the key characteristics of a monopoly.

C. Complementary goods: This is incorrect because complementary goods are goods that are used together, like bread and butter. This doesn't have much to do with whether a market is a monopoly or not.

D. Differential products: This is correct. In a monopoly, the monopolist is the only supplier of a particular good or service, which is unique and does not have close substitutes. This makes the product differential or unique.

Question

The answer is D. Differential products.

Here's why:

A monopoly is a market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

A. Homogeneous products: This is incorrect because homogeneous products are typically associated with perfect competition, where all firms offer identical products.

B. Substitutes: This is incorrect because in a monopoly, there are no close substitutes for the monopolist's product. This is one of the key characteristics of a monopoly.

C. Complementary goods: This is incorrect because complementary goods are goods that are used together, like bread and butter. This doesn't have much to do with whether a market is a monopoly or not.

D. Differential products: This is correct. In a monopoly, the monopolist is the only supplier of a particular good or service, which is unique and does not have close substitutes. This makes the product differential or unique.

Knowee AI · Accepted Answer

The answer is D. Differential products.

Here's why:

A monopoly is a market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

A. Homogeneous products: This is incorrect because homogeneous products are typically associated with perfect competition, where all firms offer identical products.

B. Substitutes: This is incorrect because in a monopoly, there are no close substitutes for the monopolist's product. This is one of the key characteristics of a monopoly.

C. Complementary goods: This is incorrect because complementary goods are goods that are used together, like bread and butter. This doesn't have much to do with whether a market is a monopoly or not.

D. Differential products: This is correct. In a monopoly, the monopolist is the only supplier of a particular good or service, which is unique and does not have close substitutes. This makes the product differential or unique.

40.Under monopoly, the monopolist sells: A. Homogeneous products B. Substitutes C. Complementary goods D. Differential products

Question

40. Under monopoly, the monopolist sells:

Solution

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