Study with quizlet and memorize flashcards containing terms like define monopoly, what are the features of a monopoly, what are some barriers to entry in monopolies and more. Firm that has become a monopoly because of economies of scale (lower costs enable firm to force smaller firm with higher costs out of business) and demand conditions; If the market can. Jul 17, 2023 · a monopoly is a specific type of economic market structure. A monopoly exists when a specific person or enterprise is the only supplier of a particular good.

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