Question

explain two features of monopoly market?​

Answer 1

Answer:

A monopoly market is characterized by the profit maximizer, price maker, high barriers to entry, single seller, and price discrimination. Monopoly characteristics include profit maximizer, price maker, high barriers to entry, single seller, and price discrimination.

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Answer 2

ANSWER

Two features of monopoly are as follow:

1️⃣ One seller and large number of buyers under monopoly, there is a single producer of a commodity. He may be alone or there may be a group of partners or joint stock company or a state. However, there are a large mumber of buyers of the product.

2️⃣ Restrictions on the entry of new firms Under monopoly, there are some restrictions on the entry of new firms into the monopoly industry. Generally, there are patent rights or exclusive control over a technique or raw material.

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