2167Civil EngineeringMedium
Perfect monopoly exists only if________?
Athe single vendor can prevent the entry of all other vendors in the market
Bthe single vendor is the only one who has the knowledge of the product
Cthe single vendor gets the absolute franchise of the product
Dthe single vendor is the only one who has the permit to sell
Correct answer
A. the single vendor can prevent the entry of all other vendors in the market
Explanation
The correct answer is the single vendor can prevent the entry of all other vendors in the market.