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.

Name: 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.
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Question

Quizplus · Accepted Answer

A pure monopoly means the firm is the sole producer of a product with no close substitutes, allowing it to set prices, making it a price maker.

One Feature of Pure Monopoly Is That the Firm Is