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Answer 4 from the six

Economics
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Jun 2nd, 2015

Monopoly;

Monopoly refers to the market of a particular commodity where is only one seller of the said commodity Monons is Greek word which meas sole or single and poleo means  sell' monopoly. thus implies an exclusive possession or control of the supply of the commodity by a single seller. The seller has  aprivileged situation regarding.

 ''Monolopy, is a market situation where a single firm represents the whole industry.

such single firm has a complete control over the production or sale of the commodity .Morever the good sold by the monopolist does not have any close subsitute...............................................etc

Jun 2nd, 2015

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