Question

definition of Monopoly​

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.

definition

• A legal monopoly offers a specific product or service at a regulated price. It can either be independently run and government regulated, or both government-run and government regulated. A legal monopoly is also known as a "statutory monopoly."