What is pure monopoly in marketing sales?
Submitted by: Murtaza
Monopoly is a market situation in which there is only one seller of a product with barriers to entry of others. The product has no close substitutes. He is a price maker who can set the price to his maximum advantage. This may occur because the firm has a patent on a product or a license from the government to be a monopoly .Pure monopoly occurs when the producer is so powerful that he is always able to take the whole of all consumers' income whatever the level of his output is.
Submitted by: Murtaza
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