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define monopoly

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define monopoly
  • 1 answers

Shristi Sah 6 years, 11 months ago

Monopoly is a form of market situation under which single no. of seller selling product and large no. of buyers are include.Ex: railways,facebook, etc Features of Monopoly 1. single seller 2.no close substitude 3.restriction of entry and exit 4.price maker 5.price discrimination
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