Asked by Becky Tseng on May 12, 2024
Verified
A market in which there is a single seller or a very limited number of sellers is a monopoly.
Monopoly
A market in which there is a single seller or a very limited number of sellers.
- Investigate the impact that market hegemony and monopolistic endeavors have on competitive dynamics.
Verified Answer
JH
James HarrisMay 19, 2024
Final Answer :
True
Explanation :
A monopoly exists when a single seller dominates the market for a particular product or service, limiting competition and controlling prices.
Learning Objectives
- Investigate the impact that market hegemony and monopolistic endeavors have on competitive dynamics.