A market structure of only one seller is best described as:

Question

Quizplus · Accepted Answer

A market structure with only one seller, where that seller has significant control over the market price of the product or service, is best described as monopolistic. This contrasts with competitive markets, where many sellers exist, and oligopolistic markets, which have a few dominant sellers. Monopolistically competitive markets feature many sellers who differentiate their products from those of competitors, which is not the case in a pure monopoly.

A Market Structure of Only One Seller Is Best Described