Economics · Monopoly Market Structure

A market structure in which a single seller supplies a unique product with no close substitutes to the entire market is known as:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Oligopoly
2Monopoly✓
3Monopolistic Competition
4Perfect Competition

Correct answer

Monopoly

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A market structure in which a single seller supplies a unique product with no close substitutes to the entire market is known as:

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A market structure in which a single seller supplies a unique product with no close substitutes to the entire market is known as:

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