Two conditions allow a single seller to become a monopolist. those two conditions are that the firm must:

Question

asked Sep 20, 2018 9.4k views

1 Answer

Abbott · Answer 1 · 2018-09-23T23:55:22+0000

There are two conditions that allow a single seller to become a monopolist. These two conditions are as follows:

1. The firm must have something unique to sell

2. The firm must have a way to prevent potential competitors from entering the market.