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Answer to Question #226771 in Economics for Pabi
Question #226771
- A monopoly is a A. small group of producers with similar products.
- B. single seller of a product that has no close substitutes.
- C. large number of producers each with a small share of the total market output.
- D. single buyer of raw materials.
Expert's answer
A monopoly is a single seller of a product that has no close substitutes.
So, the correct answer is B.
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