In which form of the market structure is the degree of control over the price of its product by a firm very large?

A Monopoly
B Imperfect condition
C Oligopoly
D Perfect competition

Correct Answer: Monopoly

In Monopoly market structure the degree of control over the price of its product by a firm very large. In a monopoly type of market structure, there is only one seller, so a single firm will control the entire market. It can set any price it wishes since it has all the market power.
Bissoy MCQ
#Commerce #Economics

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