Question

Pure monopoly refers to Multiple Choice any market in which the demand curve for the firm is downsloping. a standardized product being produced by many firms. a single firm producing a product for which there are no close substitutes. a large number of firms producing a differentiated product.

Answer 1

Answer:

a single firm producing a product for which there are no close substitutes.

Explanation:

A pure monopoly is a single supplier having a market or industry i.e. defined. The firm should be considered as an industry also in this there is no competitor or any subsitution existed. It can be arise at the time when the market share of the one firm is more than 90%

So as per the given situation, the above represent the answer