Question

What do u understand by monopoly dictatorship

Answer 1

In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. Description: In a monopoly market, factors like government license, ownership of resources, copyright and patent and high starting cost make an entity a single seller of goods.

Answer 2

A Monopoly is a single seller. In law,Monopoly is a business entity that has significant market power , that is, the power to charge overly high prices............ A small business may still have the power to raise prices in a small industry .