Which statement accurately describes a monopoly market structure?

Show Answers

Numerous buyers and sellers participate in the marketA single dominant buyer controls the marketThere is only one primary seller in the marketIndividual firms have no impact on market price or outputMultiple firms compete equally in the market

Explanation

In a monopoly, the market is characterized by a single seller who controls the supply of a product or service. This means there is only one main seller, unlike competitive markets where many buyers and sellers exist. Therefore, option C is correct.