The Opposite of Perfect Competition

The other extreme from perfect competition is a market that's a monopoly. They don't need to worry that if they charge a bit more, they'll lose customers to a rival. Nes remember that in past we talked about farmer bro martin tracelly? I do. He's that guy who majorly increased the price of this life saving drug. There was literally no other seller. So chacrelly could increase the price of daraprim and not worry too much about losing customers because there weren't any rivals.