why is there no competition in a monopoly?\na there are no close substitutes.\nb there are too many…
why is there no competition in a monopoly?\na there are no close substitutes.\nb there are too many substitutes.\nc prices are set by the government.\nd the government forbids competition.
Answer
Brief Explanation:
In a monopoly, a single - firm dominates the market. The lack of close substitutes means consumers have no alternative firms to turn to for a similar product or service, eliminating competition.
Answer:
A. There are no close substitutes.