Which statements describe characteristics of monopolies? Choose three correct answers.They can influence the government and the economy.The government cannot regulate or control them.They increase competition in the economy.They limit choice and control pricing.Only one company provides a product or service.

A monopoly exists when one company is the only provider of a product or service, so consumers have limited choices. With little or no competition, the company can have greater control over prices and may influence the economy or government. Governments can regulate monopolies, so it is not true that they cannot be controlled.

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