When there is only one business providing a product in a given market,there exists:
A)an oligopoly.
B)modified competition.
C)pure competition.
D)monopolistic competition.
E)a monopoly.

Question

Quizplus · Accepted Answer

When there is only one business providing a product in a given market, it is defined as a monopoly. This means the single business has complete control over the market for that product, with no direct competition.

When There Is Only One Business Providing a Product in a Given