Denver wants to start an industrial products manufacturing company, but he finds it difficult to enter the market as it is already dominated by a single producer who controls product quality and product prices. Given this information, Denver is unable to enter the market because of the existence of _____.
A) pure competition
B) monopoly
C) monopolistic competition
D) oligopoly

Question

Quizplus · Accepted Answer

Denver is unable to enter the market because of a monopoly, where a single producer dominates the market, controlling product quality and prices, making it difficult for new entrants.

Denver Wants to Start an Industrial Products Manufacturing Company, but He