A monopoly can result because of:
A) an ownership of a vital resource with other firms.
B) a legal patent over a good shared with another large firm.
C) successful operations.
D) production of a unique good which no one else can replicate.

Question

Quizplus · Accepted Answer

A monopoly arises when a single firm produces a unique good or service that no other firm can replicate. This gives the monopolist the power to control the price and quantity sold in the market. The other choices (A, B, and C) can all potentially lead to market power, but they do not necessarily result in a monopoly.

A Monopoly Can Result Because Of