Question

what is Monopoly market ?​

Answer 1

Answer:

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few sellers dominating a market.

Answer 2

Monopoly Market:

1. Monopoly is a market situation in which single seller exist and has power to fixed price.
2. In this type of market there is only one producer. So whatever price he fixed people has to accept.
3. No selling cost is exist in monopoly.
4. Demand curve is less elastic in monopoly.
5. In monopoly firm has no competitors.