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3)Which of the following is an example of a monopoly? a)you don’t want to buy cable from the one company that provides cable to your city so you are stuck getting a satellite dish b)while there are a lot of appliance stores in the big city threw hours away from you, they are too far to travel to so you buy your new refrigerator from the one store locally that sells appliances c)If you want to buy a new novel, your only choices are to buy from the one local bookstore in your town or to get on the internet and buy from any of the thousands of online places. d)All of the above would be considered examples of monopoly. 4)Barriers to entry a)result in an existing firm having very little market power. b)Are only legal if they are a result of one firm being protected by law from competition c)Includes anything that makes producing and selling output more difficult for a new firm than an existing firm. d)All of the above

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1. 3) Which of the following is an example of a monopoly? The cooect option is : a) you don’t want to buy cable from the one company that provides cable to your city so you are stuck getting a satellite dish 4) Barriers to entry The correct option is: c) Includes anything that makes producing and selling output more difficult for a new firm than an existing firm.