10
lesson pretestMultiple Choice

Pretest

Question 10 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY

The lack of competition within a monopoly means that

Answer
A
consumers must look elsewhere to find options.
B
offered goods and services are lackluster.
C
monopolists set their own price.
D
the product’s market is small.

Explanation

With no competing sellers, a monopolist has market power and can choose the price it charges rather than simply accepting a price set by competitors. Its choices are still limited by how much consumers are willing to buy at that price. Therefore, the correct choice is “monopolists set their own price.”

AI-written and checked against the verified answer.