q what is monopolythe term monopoly has been, Managerial Economics

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q what is monopolythe term monopoly has been

Q. What is Monopoly?

The term 'Monopoly' has been derivative of Greek term 'Monopolies' that means a single seller. So, monopoly is a market condition in that there is a single seller of a specific commodity who is known as monopolist and has complete control over the supply of his product.

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