In a monopoly, which of the following is not true?
Products are differentiated
There is freedom of entry and exit into the industry in the long run
The firm is a price maker
There is one main seller
In _____ market goods are sold at uniform price.
Monopoly
Perfect competition
Oligopoly
Duopoly
Product homogeneity is a feature of
A monopolistic competition
Firm face a perfectly elastic demand curve.
All products are homogeneous
Firms make normal profits in the long run
There are barriers to entry to prevent entry
