Sources of monopoly power
a monopolist, unlike a competitive firm, has some market power. it can raise its price, within limits, without the quantity demanded falling to zero. the main way it retains its market power is through barriers to entry�that is, other companies cannot enter the market to create competition in that particular industry.
complete the following table by indicating which barrier to entry appropriately explains why a monopoly exists in each scenario.

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Which of the following is least likely to a team solve problems together

What is one counter argument to the premise that the wealth gap is a serious problem which needs to be addressed?