134k views
5 votes
A monopoly is a market for a good or service that

a. has few competitive firms
b.is perfectly competitive
c.has one buyer
d. has one seller

2 Answers

5 votes

Answer:

single seller

Step-by-step explanation:

i took the test

User Stanete
by
7.6k points
1 vote

Answer:

The correct answer is D, Has one seller.

Step-by-step explanation:

There are four basic Market Structure. One is Perfect competition, second is imperfect competition, third is Monopoly and the fourth one is Oligopoly. So Monopoly is one the basic market structures. In Monopolistic market structure, there is only one single seller who sells the product or service. He is the sole seller of goods or service. He captures the whole market and enjoys the power of setting the price of his good or service because there is no close substitute for that product or service.

User Olga Chernyavskaya
by
6.6k points