__________ exists when the entire supply of a good is controlled by a single seller.
A) Perfect competition
B) Oligopoly
C) Pure Capitalism
D) A monopoly

Question

Quizplus · Accepted Answer

A monopoly exists when there is only one seller or producer in the market. This gives the monopoly seller the power to control prices and restrict output, leading to possible market inefficiencies such as higher prices and lower output compared to a competitive market.

__________ Exists When the Entire Supply of a Good Is