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Which of the following are features of monopoly?
a) one seller – large buyer
b) restriction in entry for new firms
c) no close substitutes
d) full control over price
e) price discrimination
Select the correct code
a,b ,c
b,c,d
a,c,e
all of above
monopoly is a market structure where only one seller controls the entire market supply . some of the features of monopoly are: i. one seller and large number of buyers ii. unavailability of close substitutes iii. maximized profit iv. price maker
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