Monopolies occur when there is only one producer that controls or dominates an industry and the consumer has no alternative choice.

Name: Monopolies occur when there is only one producer that controls or dominates an industry and the consumer has no alternative choice.
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Question

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Monopolies occur when a single company or entity has exclusive control over a particular product or service, making it the only provider in the market and limiting consumer choice.

Monopolies Occur When There Is Only One Producer That Controls