Which phrase would be most characteristic of pure monopoly?
A) close substitutes
B) efficient advertiser
C) price taker
D) sole seller

Question

Quizplus · Accepted Answer

The phrase "sole seller" is most characteristic of pure monopoly, as it refers to a situation where there is only one seller in the market, with no close substitutes. This gives the seller a significant amount of market power, as they are the only option for consumers. The other answer choices do not apply to pure monopoly - close substitutes and being a price taker are characteristics of perfectly competitive markets, while being an efficient advertiser is not necessarily related to market structure.

Which Phrase Would Be Most Characteristic of Pure Monopoly