Question

    The market structure called monopoly exists where there

    _______ in any market.
    A are multiple buyers Correct Answer Incorrect Answer
    B is a stiff competition between top brands Correct Answer Incorrect Answer
    C is no seller Correct Answer Incorrect Answer
    D is exactly one seller Correct Answer Incorrect Answer

    Solution

    The market structure called monopoly exists where there is exactly one seller in any market. A monopoly exists in areas where one company, firm, or entity is the only - or dominant - seller that sells a product or service in an industry.

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