Monopoly MadnessOnline version In this game, you will be presented with various terms related to economics and monopolies. Your task is to determine whether each term is associated with monopolies or not by answering ✅ or ❌. by sarah ayyad 1 Perfect competition is a type of monopoly. Yes No 2 Monopolies often have barriers to entry. Yes No 3 Monopolies have significant market power. Yes No 4 Monopolies have no barriers to entry. Yes No 5 Monopolies can restrict output to increase prices. Yes No 6 Monopolies can benefit from economies of scale. Yes No 7 Monopolies are never regulated by government authorities. Yes No 8 Monopolies can lead to higher prices for consumers. Yes No 9 Monopolies have no influence on market prices. Yes No 10 Monopolies do not engage in price discrimination. Yes No 11 Monopolies cannot benefit from economies of scale. Yes No 12 Perfect competition leads to efficient outcomes. Yes No 13 Monopolies can invest in research and development. Yes No 14 Monopolies always lead to lower prices for consumers. Yes No 15 Monopolies do not invest in research and development. Yes No 16 Monopolies may engage in price discrimination. Yes No 17 Monopolies can earn economic profit in the long run. Yes No 18 Monopolies can be regulated by government authorities. Yes No 19 Monopolies cannot earn economic profit. Yes No 20 Monopolies do not restrict output to increase prices. Yes No
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