With a ________,sellers feel little pressure to keep prices low or to produce quality goods or services.

Question

Quizplus · Accepted Answer

A monopoly occurs when there is only one seller in the market with no close substitute for their product or service. With no competition, the seller can charge high prices without fear of losing customers to other sellers. This lack of pressure to keep prices low or produce quality goods or services is a hallmark of a monopoly.

With a ________,Sellers Feel Little Pressure to Keep Prices Low