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In Business / High School | 2014-11-05

Which of the following is the best definition for a monopoly?

A. An industry being split among several companies to allow for competition
B. A whole industry being owned by one company
C. The government controlling and making profit from an industry
D. A large city with a population over 100,000

Asked by Papike637

Answer (3)

B. A whole industry being owned by one company

Answered by violetviolin | 2024-06-10

B, because monopoly means a complete control in the market

Answered by lucywangxj | 2024-06-10

A monopoly is defined as a market structure where a single company owns the entire industry, allowing it to control prices and supply without competition. The best definition from the options provided is B. A whole industry being owned by one company.
;

Answered by violetviolin | 2024-12-26

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