Question : In which market firm, a market or an industry is dominated by a single seller?
Option 1: Oligopoly
Option 2: Monopoly
Option 3: Duopoly
Option 4: Monopolistic competition
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Correct Answer: Monopoly
Solution : The correct answer is M onopoly .
Monopoly is the market structure where there is just one seller or producer. A monopoly restricts the number of product alternatives accessible and makes it difficult for rivals to enter the market.
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