Question

market structures and competition quiz complete the lack of competition within a monopoly means that offered goods and services are lackluster. the products market is small consumers must look elsewhere to find options monopolists set their own price

Explanation:

To solve this, we analyze each option:

• "offered goods and services are lackluster": Monopoly lack of competition doesn't directly mean low - quality goods/services.
• "the product’s market is small": Lack of competition in monopoly has no direct relation to market size.
• "consumers must look elsewhere to find options": In a monopoly, there's only one provider, but this option is incorrect as consumers don't have to look elsewhere (there's no other option in the monopoly market itself).
• "monopolists set their own price": In a monopoly, since there's no competition, the monopolist has the power to set the price (they are price - makers), which is a key characteristic of a monopoly due to lack of competition.

Answer:

D. monopolists set their own price