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Give any two characteristics of Monopoly. - Economics

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Question

Give any two characteristics of Monopoly.

Very Short Answer
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Solution

The main characteristics of monopoly are:

  1. Monopoly is also an industry.
  2. One seller and large number of buyers.
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Chapter 14: Price Output Determination Under Monopoly - TEST QUESTIONS [Page 14.15]

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R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC
Chapter 14 Price Output Determination Under Monopoly
TEST QUESTIONS | Q A. 2. | Page 14.15
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