In a pure monopoly:

Name: In a pure monopoly:
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Question

In a pure monopoly:

Quizplus · Accepted Answer

In a pure monopoly, there is only one seller in the market, and there are high barriers to entry, making it difficult for any other firms to enter the market and compete with the monopolist. Therefore, the monopolist has complete control over the market and can set prices as they see fit. Buyers do not have control over prices, and the government does not regulate demand and supply. The products sold by the monopolist may or may not be homogenous.

In a Pure Monopoly