Monopoly exists 18 single seller sells a product, true or false
False.
Monopoly exists when only one seller controls the market and has no competition.
False.
Monopoly exists when there is only one seller or producer of a particular product or service. It means that there is no competition in the market, and the monopolistic seller has complete control over the price and supply of the product.
False. Monopoly refers to a situation where there is only one seller or producer of a particular product in the market, effectively eliminating competition. If there are 18 single sellers selling the same product, it would not be considered a monopoly. In such a scenario, the market would typically be referred to as having multiple sellers or a competitive market.
To determine if a monopoly exists, you would need to assess the market structure and analyze whether there is a single dominant seller with significant market power, or if there are multiple competing sellers. This can be done by conducting market research, examining industry reports, analyzing market concentration ratios, and considering any barriers to entry that may limit competition.