Economy, asked by veenajetpuriya4221, 1 year ago

A market condition where only one firm dominates the market.

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Answered by rslekshmi08

monopoly is a market when only one firm dominates, and the consumer has no choice between competing products. That one firm is referred to as a monopolist. Monopolies occur when possible competitors are unable to enter the market, due to the competitive pressure from the monopolist.

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