Question

what is Monopoly? explain it's types​

Answer 1

Answer:

A monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. An unregulated monopoly has market power and can influence prices........

Examples: Microsoft and Windows, DeBeers and diamonds, your local natural gas company.......

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Answer 2

monopoly is an economic market structure where a specific person or enterprise is the only supplier of a particular good. A monopoly market is characterized by the profit maximizer, price maker, high barriers to entry, single seller, and price discrimination.

MONOPOLY, CHARACTERISTICS: The four key characteristics of monopoly are: (1) a single firm selling all output in a market, (2) a unique product, (3) restrictions on entry into and exit out of the industry, and more often than not (4) specialized information about production techniques unavailable to other potential producers.

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