Which statement is true about monopolies?

A) They face the demand curve of the entire industry and provide the entire industry supply.
B) They do not face the demand curve of the entire industry.
C) They do not provide the entire industry supply.
D) None of these statements are true about monopolies.

Monopolies

Market situations where a single supplier dominates the supply of a particular good or service, limiting competition and potentially leading to higher prices and reduced innovation.

Entire Industry Supply

The total quantity of a specific good or service that is available to consumers from all producers in a particular industry.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping to the right.