In marketing, the form of competition that occurs when only one firm sells the product is referred to as
A)pure competition.
B)a megopoly.
C)an oligopoly.
D)monopolistic competition.
E)pure monopoly.

Question

Quizplus · Accepted Answer

When only one firm sells a specific product or service in a market with no close substitutes, it is a pure monopoly. This means that the firm has complete control over price and output, with no competition to constrain its actions.

In Marketing, the Form of Competition That Occurs When Only