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      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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