What is a pure monopoly?
A) It is an industry in which there are many rival firms competing for sales.
B) It is a market structure in which there is a single buyer.
C) It is a market structure in which there are many substitute products.
D) It is an industry in which there is a single seller.

Question

Quizplus · Accepted Answer

A pure monopoly is a type of market structure in which a single seller dominates the industry and has complete control over the supply and price of the product, with no close substitute available. Therefore, option D is the correct answer.

What Is a Pure Monopoly