Maharashtra State BoardHSC Commerce 12th Board Exam
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Give Reason Or Explain the Following Statement: a Monopolist Can Control the Supply of Goods . - Economics

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Give reason or explain the following statement:

A monopolist can control the supply of goods .

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Solution

The statement is True. Reason – In monopoly market, there is a single seller or a single producer. Under monopoly, he has no rivals and he faces no competition. Entry of other firms are strictly restricted. Therefore, monopoly firm and monopoly industry is one and same. Hence, it can control the supply of goods.

Concept: Concept of Supply
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