________ exists when the entire supply of a good is controlled by a single seller.
A) Perfect competition
B) Oligopoly
C) Pure capitalism
D) A monopoly

Question

Quizplus · Accepted Answer

A monopoly exists when there is only one seller in the market and they have complete control over the supply of the good, making it difficult for competitors to enter the market. This allows the monopolist to set high prices and restrict output, leading to potentially negative outcomes for consumers.

________ Exists When the Entire Supply of a Good Is