A monopoly is the sole seller of a product with no close substitutes.

Name: A monopoly is the sole seller of a product with no close substitutes.
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A monopoly is a market structure where a single seller controls the entire supply of a particular good or service without any close substitutes. This gives the monopolist significant market power, which they can use to limit output and increase prices.

A Monopoly Is the Sole Seller of a Product with No