A firm may not be deemed a monopoly unless it is the sole seller in a market.

Name: A firm may not be deemed a monopoly unless it is the sole seller in a market.
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A firm may still be deemed a monopoly even if it is not the sole seller in a market. It is possible for a firm to have significant market power and control over prices even with the presence of other competitors. The key factor is whether the firm has the ability to set prices and restrict output without the threat of competition.

A Firm May Not Be Deemed a Monopoly Unless It