which phrase best describes the characteristics of a monopoly?\n a group of companies that produce and sell…

which phrase best describes the characteristics of a monopoly?\n a group of companies that produce and sell products at similar prices\n a group of companies that encourage competition by creating new products\n a large company that dominates its industry with little or no competition\n a large company that efficiently produces high - quality goods or services

which phrase best describes the characteristics of a monopoly?\n a group of companies that produce and sell products at similar prices\n a group of companies that encourage competition by creating new products\n a large company that dominates its industry with little or no competition\n a large company that efficiently produces high - quality goods or services

Answer

Answer:

C. a large company that dominates its industry with little or no competition

Brief Explanations:

A monopoly is a market - structure where one firm has significant market power and faces little or no competition. Options A and B describe competitive or oligopolistic scenarios. Option D does not specifically define a monopoly as it could apply to a competitive firm as well.