A monopolist has the power to influence the prices of goods and services. Therefore, he is a
A.
price maker
B.
price taker
C.
price system
D.
price competition
Correct Answer: Option A
Explanation
Monopoly is a situation where there is a single producer and seller of a commodity for which there is no close substitute. This gives a monopolist the power to make/decide the price for a particular commodity.
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