Question

List the features of Monopoly competition.

Answer 1

THE FEATURES OF MONOPOLY COMPETITION ARE ―

One Seller and Large Number of Buyers: The monopolist's firm is the only firm; it is an industry. ...

No Close Substitutes: There shall not be any close substitutes for the product sold by the monopolist. ...

Difficulty of Entry of New Firms: ...

Monopoly is also an Industry: ...

Price Maker:



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