The market structure in which there is only one producer is called
A) monopoly
B) oligopoly
C) monopolistic competition
D) perfect competition
E) duopoly

Name: The market structure in which there is only one producer is called A) monopoly B) oligopoly C) monopolistic competition D) perfect competition E) duopoly
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Question

Quizplus · Accepted Answer

A monopoly exists when there is only one producer in the market, giving them significant control over prices and the supply of the product or service.

The Market Structure in Which There Is Only One Producer