When a single firm accounts for 100 percent of industry sales,it is an example of which type of market structure?
A) a pure monopoly
B) an oligopoly
C) monopolistic competition
D) imperfect competition

Question

Quizplus · Accepted Answer

A pure monopoly exists when a single firm accounts for 100 percent of industry sales. This is a situation where there is no competition and the firm has significant market power. The other market structures (oligopoly, monopolistic competition, and imperfect competition) involve multiple firms competing to some degree in the market.

When a Single Firm Accounts for 100 Percent of Industry