Multiple choice

Monopoly means

  1. single buyer

  2. many sellers

  3. single seller

  4. many buyers
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In economics, a monopoly refers to a market structure with a single seller dominating the market for a product or service with no close substitutes. This contrasts with perfect competition (many sellers) or monopsony (single buyer). The single seller has significant market power to influence prices.

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