Advertisements
Advertisements
Questions
What is meant by a monopoly market?
What is monopoly?
What do you mean by Monopoly?
Explain
Short Answer
Advertisements
Solution
When there is just one producer of a good with no close substitutes, the market is said to be monopolized. According to Kout-soyiannis, “Monopoly is a market situation in which there is a single seller, there are no close substitues for commodity it produces, there are barrier to entry.”
shaalaa.com
Is there an error in this question or solution?
