A monopolist has the power to influence the prices of goods and services. Therefore, he is a
Answer Details
A monopolist has the power to influence the prices of goods and services, therefore he is a price maker. In a market with a monopolist, there is only one seller, who has complete control over the supply of a particular good or service. This means that the monopolist has the ability to set the price for their product, as there is no competition to drive the price down. This is in contrast to a market with many sellers, where the price is determined by the interaction of supply and demand, and individual sellers have limited control over the price. In this case, the seller is considered a price taker, as they must accept the market price determined by supply and demand.