Which of the following describes the monopoly market structure?
A) few firms operating as price takers
B) single firm operating as a price taker
C) single firm that is a price maker
D) many firms that are price makers

Question

Quizplus · Accepted Answer

In a monopoly market structure, there is only one firm operating in the market and it has the power to set prices as a price maker. It does not have to be a price taker like in a competitive market structure where there are many firms. Therefore, option C is the correct choice.

Which of the Following Describes the Monopoly Market Structure