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    Penchal Doggala
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    This document provides information about monopoly markets. It defines a monopoly as a market with a single seller and no close substitutes for the commodity being sold. Examples given include Indian Railways. The document notes key economists' definitions of monopoly and lists features such as one seller and many buyers, barriers to entry of new firms, and the seller being a price maker able to engage in price discrimination. Monopoly is contrasted with perfect competition, where there are many small producers.

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    This document provides information about monopoly markets. It defines a monopoly as a market with a single seller and no close substitutes for the commodity being sold. Examples given include Indian Railways. The document notes key economists' definitions of monopoly and lists features such as one seller and many buyers, barriers to entry of new firms, and the seller being a price maker able to engage in price discrimination. Monopoly is contrasted with perfect competition, where there are many small producers.

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    © All Rights Reserved
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    16 views2 pages

    Micro Economics Digital Assignment

    Uploaded by

    Penchal Doggala
    This document provides information about monopoly markets. It defines a monopoly as a market with a single seller and no close substitutes for the commodity being sold. Examples given include Indian Railways. The document notes key economists' definitions of monopoly and lists features such as one seller and many buyers, barriers to entry of new firms, and the seller being a price maker able to engage in price discrimination. Monopoly is contrasted with perfect competition, where there are many small producers.

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    © All Rights Reserved
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    MICRO ECONOMICS DIGITAL ASSIGNMENT – 1

    Name:D.Penchal
    Reddy
    Reg.no:17BCE0918
    Slot:E1

    Monopoly:
    The Word Monopoly is a Latin Term. „Mono‟ means Single and „Poly‟ means Seller.

    Monopoly is a form of Market Organization in which there is only One Seller of the Commodity.

    There are No Close Substitutes for the Commodity sold by the Seller.

    Example : Indian Railways

    According To Koutsoyiannis , “Monopoly Is a Market Situation in Which There is A single Seller, There
    are no close substitutes for commodity it produces ,there are barriers to entry.

    According To Baumol , “ A pure Monopoly is defined as the firm that is also an industry. It is the only
    supplier of some particular commodity for which there exist no close substitutes.”

    Monopolizing
    Controlling all resources

    Not allowing other firms to enter market

    Providing a unique product

    Absolute control over market price

    Features or assumptions of monopoly


    One seller and large number of Buyers.

    Monopoly is also an Industry.

    Restrictions on the Entry of the New Firms.

    No close Substitutes.

    Price Maker.

    Price Discrimination.
    Monopoly v/s perfect competition

    https://www.economicshelp.org/blog/371/monopoly/monopoly-diagram/

    1)Is one of many producers

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