A monopolist is a price maker ?how
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_______ʜᴇʏ ᴍᴀᴛᴇ_______
A monopolist is a price maker .It means that he can fix whatever price he wishes to fix for his product .It is because of the following reason .________
⚫A monopolist is a single seller of the product in the market .There is no competition .
⚫There are no close substitute of the Monopoly product .So that there is no fear that the buyers would shift from one product to other to any significant extent .
⚫There are legal, technical or natural barriers to the entry of new firms.So that there's no challenge to the price fixed by the monopolist.
✨ Hope this helps you ✨
A monopolist is a price maker .It means that he can fix whatever price he wishes to fix for his product .It is because of the following reason .________
⚫A monopolist is a single seller of the product in the market .There is no competition .
⚫There are no close substitute of the Monopoly product .So that there is no fear that the buyers would shift from one product to other to any significant extent .
⚫There are legal, technical or natural barriers to the entry of new firms.So that there's no challenge to the price fixed by the monopolist.
✨ Hope this helps you ✨
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In economics, a price maker is a monopolistic company that can dictate the prices of its goods because there are no substitutes for it. In trading, a price maker is a stockholder who controls a large number of shares and is able to affect the stock's price.
hope it helps uu..!!❤
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