Explain briefly three features of monopoly market
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1.A monopoly market is characterized by the profit maximizer, price maker, high barriers to entry, single seller, and price discrimination.
2.Monopoly characteristics include profit maximizer, price maker, high barriers to entry, single seller, and price discrimination.
3.Sources of monopoly power include economies of scale, capital requirements, technological superiority, no substitute goods, control of natural resources, legal barriers, and deliberate actions.
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meaning, characteristics of monopoly
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