Share
Notifications

View all notifications
Advertisement

Define Monopoly. - Economics

Login
Create free account


      Forgot password?

Question

Define monopoly. 

Solution

Monopoly is that market form which consists of only a single seller producing goods that have no close substitutes. This single firm caters to the needs of a large number of buyers.  

  Is there an error in this question or solution?
Advertisement
Advertisement

Video TutorialsVIEW ALL [2]

Define Monopoly. Concept: Main Market Forms.
Advertisement
View in app×