Ramsons manufactures military binoculars.Although the binoculars are priced unreasonably high, Ramsons manages to sell a large number of units each year because Ramsons is the sole supplier of military binoculars in the market.This is an example of:

Question

Quizplus · Accepted Answer

Ramsons is the sole supplier of military binoculars, which means it has no competition in the market, characteristic of a monopoly.

Ramsons Manufactures Military Binoculars