Sellers in a competitive market must take into account what buyers will do and those in the monopolized market do not.

Name: Sellers in a competitive market must take into account what buyers will do and those in the monopolized market do not.
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In a monopolized market, sellers still need to consider the demand side of the market, including what buyers are willing to pay, although they have more power over setting prices compared to sellers in a competitive market.

Sellers in a Competitive Market Must Take into Account What