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A brief clarification of what monopoly is?
This term, monopoly is generally associated with economics. When you are in business studies and management studies you have to know each condition of the market. So, a monopoly can be defined as a market condition created by a single seller and multiple buyers.
States when this monopoly market condition can generate:
- Only one company has access to raw materials to the product manufacture and creates a monopoly market condition by selling to the customers. It also gives the manufactures an instant profit because there will be no competition so consumers have to buy the product at their price range. Customers will have no options but to purchase.
- Sometimes government itself creates monopoly market condition when they cease some of market product or company to sell their product in the market.
There are many other factors that create a monopoly. We evaluate the depth of the monopoly homework solver. Our economic experts are frequent and reliable to solve any kind of problems regarding Monopoly. So we are able to provide any solution.
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