Question

Mention two features of monopoly market?

Answer 1

Explanation:

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.

Answer 2

Maximum Profit and Single seller are the features of a monopoly market.

What are the characteristics of a monopoly market?

• Maximum Profit: There is very little competition in the monopoly market so seller earns maximum profit
• Single Seller: Only one person maintains the whole company and produces all outputs in the market
• The Barrier to enter: The sellers are not easily entering this market
• Price Maker: In this market, sellers decide the price and earn maximum profit