One feature of pure monopoly is that the firm is
A) a producer of products with close substitutes.
B) one of several producers of a product.
C) a price taker.
D) a price maker.

Question

Quizplus · Accepted Answer

Pure monopoly is characterized by a single seller with no close substitutes for its product. As the sole supplier, the monopolist has the power to set the price of its product, making it a price maker rather than a price taker.

One Feature of Pure Monopoly Is That the Firm Is