Question

A ____ will use its power over product quantity and price whenever it is advantageous to itself.

Answer 1

A monopoly will use its power over product quantity and price whenever it is advantageous to itself. In a monopoly market, there is only one seller of a particular product or service, giving them significant control over the market.

Step-by-step explanation:

A monopoly will use its power over product quantity and price whenever it is advantageous to itself. In a monopoly market, there is only one seller of a particular product or service, giving them significant control over the market. As the sole provider, a monopoly can set high prices and limit the quantity available to maximize their profits. This power can have unintended consequences, such as reducing consumer choice and potentially leading to higher prices for consumers.