a monopoly is a _________ firm industry.

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26-10-2022
Business

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a monopoly is a _________ firm industry.

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pragyavermav1 pragyavermav1 · Answer 1 · 2022-10-31T04:20:25-04:00

A monopoly is a single seller in a market or sector firm industry.

A monopoly is a company that's the sole seller of its product, and where there are not any close substitutes. An unregulated monopoly has market power and can affect costs. Examples: Microsoft and home windows, DeBeers and diamonds, and your nearby herbal gas organization.

Thus far, the most well-known united states of America monopolies, known in large part for their ancient significance, are Andrew Carnegie's steel agency (now U.S. Metallic), John D. Rockefeller's general Oil agency, and the Yankee Tobacco employer.

A monopoly is an employer that exists in a marketplace with little to no opposition and can consequently set its very own phrases and costs whilst dealing with consumers, making them pretty worthwhile.

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