Distinguish between Natural monopoly and legal monopoly. – InterviewSolution

1.	Distinguish between Natural monopoly and legal monopoly.
Answer» Monopoly is a condition in which ONE BUSINESS controls the production and price of a specific item. This is generally CONSIDERED against the law in most countries because it eliminates COMPETITORS that can produce substitutes at a lower price. There MAY be some cases in which a monopoly is unavoidable.

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