Pure monopoly
One seller, who may select price or quantity to sell
Pricing depends on monopoly type
Government monopoly => various options, e.g. price below cost for social reasons, price to cover costs, price high to slow down consumption
Private regulated monopoly => allowed to sell at rates with “fair return”
Private non-regulated monopoly => free to price how they want, but maximum price not always charged to (a) avoid attracting competition, (b) penetrate market faster, (c) fear of regulation