Which is a condition for existence of monopoly?

1.	Which is a condition for existence of monopoly?
Answer» No close SUBSTITUTE No close substitute is a CONDITION for EXISTENCE of monopoly. If a close substitute EXISTS, then the monopoly cannot exist. Remember, a monopoly can only exist when the cross-elasticity of the product that the monopolist PRODUCES is zero.

Answer»

No close substitute is a CONDITION for EXISTENCE of monopoly. If a close substitute EXISTS, then the monopoly cannot exist. Remember, a monopoly can only exist when the cross-elasticity of the product that the monopolist PRODUCES is zero.

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Which is a condition for existence of monopoly?

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