Question

what is monopoly?and explain the types of monopoly?​

Answer 1

Momopoly is made of two word mono and poly... thus the monopoly firm itself as industry and the monoplistics faces the industry demand curve....

DEFINITION

monopoly may be defined as -- "Market form in which a single producer controll the whole supply of single commodity which has no close substituties...

Type of Monopoly::

public monopoly

absolute monopoly

imperfect monopoly

legal monopoly

Answer 2

monopoly is made up of two words -mono poly in other words monopoly is the market situation in which there is only one seller of a product with barriers to enter of other Advertisement : The product as no close substitutes kinds: single monopoly:A single monopoly firm charges a uniform prices for its output sold to all the buyers
2. pure monopoly is a type of monopoly in which a single firm which controls the supply of a commodity which has no substitutes not even a remote one
other types are:natural monopoly, legal monopoly, industrial monopoly