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Define Monopoly market....

Define Monopoly market.

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It refers to a market situation where there is a single seller selling a product which has no close substitutes. The firm is a price maker.
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State 3 features of monopoly market. Describe any one.

RADHA BHUGANA-FORMS OF MARKET AND PRICE DETERMINATION UNDER PERFECT COMPETITION WITH SIMPLE APPLICATIONS -OBJECTIVE TYPE QUESTIONS
  1. Define perfect competition.

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  2. Define Monopoly market.

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  3. Defice monopolistic competition.

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  4. What is oligopoly ?

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