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| 1. |
Define monopoly. |
| Answer» <html><body><p></p>Solution :It refers to a market situation where there is a <a href="https://interviewquestions.tuteehub.com/tag/single-644669" style="font-weight:bold;" target="_blank" title="Click to know more about SINGLE">SINGLE</a> seller <a href="https://interviewquestions.tuteehub.com/tag/selling-25929" style="font-weight:bold;" target="_blank" title="Click to know more about SELLING">SELLING</a> a <a href="https://interviewquestions.tuteehub.com/tag/product-25523" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCT">PRODUCT</a> which has no close <a href="https://interviewquestions.tuteehub.com/tag/substitutes-1231649" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTES">SUBSTITUTES</a>. The firm is a <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> maker.</body></html> | |