A monopoly is
A) a firm that has control of a market because it is the only seller.
B) a cost of producing a good or service.
C) a firm that faces intense competition.
D) a firm that creates enormous external costs.
E) the single buyer of some good or service.

Question

Quizplus · Accepted Answer

A monopoly is a market structure where a single firm dominates and controls the entire market, making it the only seller and giving it the power to set prices without facing competition from other firms.

A Monopoly Is