A firm that is the only seller of a product and is in sole control of a market has a
A) monopoly.
B) quantity regulations.
C) subsidy.
D) public good.

Question

Quizplus · Accepted Answer

A monopoly is a market structure in which there is only one seller of a product or service. This gives the seller complete control over the market and allows them to set prices and output levels without competition.

A Firm That Is the Only Seller of a Product