Question

What is monopolistic market?
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Answer 1

A monopolistic market is a theoretical condition that describes a market where only one company may offer products and services to the public. ... In a purely monopolistic model, the monopoly firm can restrict output, raise prices, and enjoy super-normal profits in the long run.

Answer 2

Answer:

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Explanation:

A monopolistic market is a theoretical condition that describes a market where only one company may offer products and services to the public. .In a purely monopolistic model, the monopoly firm can restrict output, raise prices, and enjoy super-normal profits in the long run