A Monopoly

question 73

Multiple Choice

A monopoly:

• A) exists when either the buyer OR the seller has the ability to influence the market price.
• B) exists when there are so many buyers and sellers that each has only a small impact on the market price and output.
• C) exists when a single consumer demands the entire market for a particular good or service.
• D) can have many sellers but only one buyer.
• E) exists when a single company supplies the entire market for a particular good or service.

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Definitions:

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