top button
Flag Notify
    Connect to us
      Site Registration

Site Registration

What is monopoly power?

+1 vote
126 views
What is monopoly power?
posted Dec 9, 2017 by anonymous
Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

+1 vote

A monopoly is a market condition when a specific person or enterprise is the only supplier of a particular product or services.

What are the reasons why Monopoly Condition exist in a market?
Factors like government license, ownership of resources, copyright and patent and high starting cost make an entity a single seller of goods pr services i.e monopolistic condition.

What is the disadvantage of Monopoly Condition?
Characteristics associated with a monopoly market make the single seller the market controller as well as the price maker. He enjoys the power of setting the price for his goods i.e. consumer loss.

answer Dec 11, 2017 by Salil Agrawal

Your answer

Preview

Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.
...