Which of the following exists when an industry or market has only one producer?
A) perfect competition
B) oligopoly
C) monopoly
D) communism

Question

Quizplus · Accepted Answer

Monopoly exists when an industry or market has only one producer. Perfect competition exists when there are many small producers, while oligopoly exists when a few large producers dominate the market. Communism is a political system, not an economic market structure.

Which of the Following Exists When an Industry or Market