Question

give all thw features monopoly

Answer 1

Features :
1. One seller and large no. of buyers
2. No close subsitute
3. Difficulty of entry of firms
4. Monopoly is also an industry.
5.Nature of demand and revenue under monopoly
6. Its like a price maker

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Answer 2

It has more buyers but less sellers
It has control over the market price hence it is a price maker
The products sold by the firms may or may not be homogeneous
Entry of new firms into the market is not

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