Question

A market structure in which there is a single seller is called _________.

• A. perfect competition
• B. no competition
• C. monopoly
• D. none of the above

Answer 1

The correct option is C monopoly

Monopoly is a firm where there is only a single seller who sells unique product, which has no close substitute, and has a full control over the firm. Hence, a market structure in which there is a single seller is called monopoly.