Are monopolies always price makers? I have the following True/False question:


  A single price-taking firm on the market is called a monopoly.


As far as I know, a monopoly is a price maker not a price taker. That being said if it is a single firm how in the world can it not be a monopoly? 

In my opinion, the answer to this question is False.

Could anyone possibly explain to me if my way of thinking is correct? and if a monopolistic firm can be a price taker?

Thank you very much
You are correct. A monopoly is a price maker. Not a taker.

A monopoly has the power to influence the price it charges as the good it produces does not have perfect substitutes. A price maker within monopolistic competition produces goods that are differentiated in some way from its competitors' products.

I suppose a monopolistic firm could be a price taker via matching random re-sellers prices on singular items, however that would be operating at a loss a majority of the time. The idea with that though is to retain the customer business for the future, not to make a single small profit on one item, one time.