Question

Define Monopoly ??

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Answer 1

Explanation:

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market.

Answer 2

Answer:

The control of an industry or service by only one company; a type of goods or a service that is controlled in this way is known as monopoly.