In a monopoly market, what is the primary factor that allows the monopolist to set prices above marginal cost?

In a monopoly market, the primary factor that allows the monopolist to set prices above marginal cost is the lack of competition. Since there is only one seller in the market, this monopolist has significant control over the price of the product. They can choose to produce less of the good, which limits supply and allows them to charge a higher price than what it costs to produce each additional unit, known as marginal cost. For example, if a company is the only producer of a unique video game, it can set a price that is higher than what it costs to make one more copy, maximizing its profits. This ability to control prices comes from having no rival companies that could offer a lower price.