what are the characteristics of monopoly market
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Monopoly characteristics include profit maximizer, price maker, high barriers to entry, single seller, and price discrimination. ... The most significant distinction is that a monopoly has a downward sloping demand instead of the “perceived” perfectly elastic curve of the perfectly competitive market.
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There are 4 characteristics of monopoly market :-
1) A single firm selling all output in a market
2) A unique product
3) Restrictions on entry into and exist out of the industry, and more often than not
4) Specialized information about production techniques unavailable to other potential producers.
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