In a monopoly market structure, what is the primary factor that allows the monopolist to maximize profits?

In a monopoly market structure, the primary factor that allows the monopolist to maximize profits is their control over the supply of a product. Because they are the only seller in the market, they can set prices higher than in competitive markets, where many sellers exist. This control means that they can produce less of the good to keep prices high, leading to greater profits. For example, if a company is the sole provider of a unique medication, it can charge a high price because there are no alternatives available. By managing the quantity of the product and setting prices, the monopolist ensures they make the most money possible.