what do you mean by monopoly
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Posted by Avinash Raj Singh Avinash Raj Singh 5 years, 11 months ago
- 2 answers
Yogita Ingle 5 years, 11 months ago
The term monopoly means a single seller (mono = single and poly = seller). In economics, a monopoly refers to a firm which has a product without any substitute in the market. Therefore, for all practical purposes, it is a single-firm industry.
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Lovekush Lovekush 5 years, 11 months ago
0Thank You