Question

what is monopoly of trade​

Answer 1

In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices. ... Monopolies can be established by a government, form naturally, or form by integration. In many jurisdictions, competition laws restrict monopolies

Answer 2

Answer:

In a monopoly market, factors like government license, ownership of resources, copyright and patent and high starting cost make an entity a single seller of goods. All these factors restrict the entry of other sellers in the market. Monopolies also possess some information that is not known to other seller

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