Monopoly
 

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When few companies controll the markets.That is they are the price settlers in the market. Monopoly situation is when more than 35%  of the market is controlled by one company.

Monopoly Market Features

  • one seller control over the market
  • Many buyers
  • Product differentiation-Similar Products
  • difficulty of entry 
  • Imperfect mobility 
  • imperfect knowledge
  • 4bvPrice settler