Question

what is monopoly????
Explain different types of monopoly:



share pics of alia bhatt (more than 3)​

Answer 1

${\huge{\underbrace{\overbrace{\color{brown}{answer}}}}}$

✍︎ Definition of Monopoly :

A monopoly is a dominant position of an industry or a sector by one company, to the point of excluding all other viable competitors. Monopolies are often discouraged in free-market nations. ☘︎☘︎

“Monopoly is made of two words—’Mono’ and ‘Poly’. ‘Mono’ means single and ‘Poly’ means seller. Thus, ‘Monopoly refers to a market situation where one firm or a group of firms which are combined to have a control over the supply of the product. ”

”In other words, Monopoly is a market situation in which there is only one seller of a product with barriers to entry of others.

______________________________________

➪ Types of Monopoly :

• Simple Monopoly and Discriminating Monopoly
• Pure Monopoly and Imperfect Monopoly
• Natural Monopoly
• Legal Monopoly
• Industrial Monopolies or Public Monopolies.

_____________________________________

Hope this helps please mark it as brainliest !!