A monopoly is a single firm that produces the entire market supply of a particular good or service.

Name: A monopoly is a single firm that produces the entire market supply of a particular good or service.
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A monopoly refers to a situation where there is only one seller or producer of a particular good or service in the market. This means that the single firm has complete control over the market supply and can set prices as it sees fit without fear of competition.

A Monopoly Is a Single Firm That Produces the Entire