What are the Features of Monopoly
What are the Features of Monopoly?
Expert
The given are the significant features of monopoly as follows:
1. One seller and a huge number of buyers.
2. Not any close substitutes for the product.
3. It is not the price taker and the price maker.
4. It can control the supply.
5. Not any entry of new firm to the market.
6. Industry and Firm are the similar.
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