limitation of monopoly
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Explanation:
The following points highlight the eight limits to the power of a monopolist.
The limits are: 1. New Entry of Competitors 2. Fear of Substitutes 3. Fear of Public Reactions 4. Fear of Governmental Regulations 5. Consumer’s Surplus of the Commodity 6. Because of the Countervailing Power 7. Fear of Nationalisation 8. Differences in the Elasticities of Demand.
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