In which of the following market structures individual firms have the highest control over product prices?
A)Pure competition
B)Monopolistic competition
C)Oligopoly
D)Monopoly

Question

Quizplus · Accepted Answer

In a monopoly market structure, there is only one firm and no competition. The firm has complete control over the supply of the product and can charge any price it wants without fear of losing sales to competitors. Therefore, a monopoly has the highest control over product prices.

In Which of the Following Market Structures Individual Firms Have