Under which of the following market structures would consumers likely pay the highest price for a product?
A)perfect competition
B)monopolistic competition
C)oligopoly
D)monopoly

Question

Quizplus · Accepted Answer

In a monopoly market, there is only one supplier for a particular product or service. This gives the supplier complete control over the price and limits consumer choice. As a result, consumers are likely to pay the highest price in a monopoly market.

Under Which of the Following Market Structures Would Consumers Likely