Question

What is a monopoly? NOW PLS 40 PONINTS

Responses

a system in which people earn wages and buy the goods and services they choose

a system in which people earn wages and buy the goods and services they choose

a business owned by many people called stockholders

a business owned by many people called stockholders

a market that has only one seller of a product, and the seller can influence the price of the product

a market that has only one seller of a product, and the seller can influence the price of the product

a market that relies on the trading of goods and services without the use of money

a market that relies on the trading of goods and services without the use of money

Answer 1

Answer: The correct answer is a market that has only one seller of a product, and the seller can influence the price of the product

Step-by-step explanation:

A monopoly is defined as a product where there is only one sole seller and there are no close substitutes or generic options. When an unregulated monopoly exists, then the owning company or firm has market power dominance and full control of pricing. Some example monopolies include utility companies, pharmaceutical products, Microsoft, and AT&T.

Answer 2

Answer:the exclusive possession or control of the supply of or trade in a commodity or service

Explanation: Even though the answer is not in the multiple choice try to find the closest thing to the answer.