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  • A Market Structure in Which There Is Only One Producer/seller For A Product

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    Ian Von Arandia
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    A monopoly is a market structure dominated by a single seller who determines prices and restricts market entry. Key characteristics include one seller producing all output and controlling prices, with high barriers preventing other sellers from entering the market. Examples in the Philippines include Meralco as the sole supplier of electricity.

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    Monopoly

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    Monopoly

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    A monopoly is a market structure dominated by a single seller who determines prices and restricts market entry. Key characteristics include one seller producing all output and controlling prices, with high barriers preventing other sellers from entering the market. Examples in the Philippines include Meralco as the sole supplier of electricity.

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    © All Rights Reserved
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    23 views1 page

    A Market Structure in Which There Is Only One Producer/seller For A Product

    Uploaded by

    Ian Von Arandia
    A monopoly is a market structure dominated by a single seller who determines prices and restricts market entry. Key characteristics include one seller producing all output and controlling prices, with high barriers preventing other sellers from entering the market. Examples in the Philippines include Meralco as the sole supplier of electricity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    MONOPOLY

    - A market structure in which there is only one producer/seller for a product


    - Seller is able to make his own price it can be increased or
    decreased according to his desire
    - A market that is restricted due to high costs or other impediments, which
    may be economic, social or political.

    CHARACTERISTICS:
    - A monopoly maximizes profit
    - The Monopoly decides the price of the good or product being
    sold
    - Other sellers are unable to enter the market of the monopoly
    - One seller produces all of the output for the good or service
    EXAMPLES OF MONOPOLY IN THE PHILIPPINES:
    Meralco, the only supplier of electricity in the country

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