T&U Ltd. drives its competitors out of business by charging low prices for its mopeds, thus becoming the only moped provider in the market. This resultant market is known as a(n)_____.

Question

Quizplus · Accepted Answer

The scenario described indicates that T&U Ltd. has become the sole provider of mopeds in the market. This is a clear indication of a monopoly, where only one seller exists for a product or service.

T&U Ltd Drives Its Competitors Out of Business by Charging Low