What are the major characteristics of pure monopoly?
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Pure monopolist is only ( buyer/seller ) of product for which there are ( some/no ) intimate replacements.
To maintain this state as sole ( buyer/seller ) of an unique product there must be ( severe/some/no ) barriers for entry.
It consists of “price setting” capacity as monopolist is industry and it supplies whole market.
Given demand for product the monopolist must lessen price to increase quantity sold.
Lastly advertising under pure monopoly sometimes depends on the nature of product and whether monopolist feels theres need to increase demand for product.
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