A(n)_____________ exists when a market is controlled by a single company offering one set of products.
A) Monopoly
B) Oligopoly
C) Monopolistic competition
D) Pure competition
E) None of the above

Question

Quizplus · Accepted Answer

A monopoly exists when a market is dominated by a single company offering a unique set of products or services. This company has the power to control prices without fear of competition since there are no close substitutes available.

A(n)_____________ Exists When a Market Is Controlled by a Single